BAKU, Azerbaijan, January 7. Last year, several vessels owned by Azerbaijan Caspian Shipping CJSC (ASCO) were subjected to international sanctions over allegations related to the transportation of Russian crude oil, TurkicWorld reports.
During 2025, two vessels owned by ASCO, along with three vessels jointly owned through the company’s joint venture SA Maritime AFZECO, were sanctioned by the European Union, the United Kingdom, and Canada.
The communique notes that ASCO’s management has launched a legal review and is preparing an appeal in order to prove that neither the company nor its joint venture violated the relevant sanctions regimes.
As of the date of publication of the consolidated financial statements, the outcome and timing of the appeal remain uncertain.
The communique emphasizes that the sanctions could have a significant impact on the group’s future operations and financial position.
The "Azerbaijan Caspian Shipping" Joint-Stock Company merged the country’s main fleets, the Azerbaijan State Caspian Sea Shipping Company and the State Oil Company of the Azerbaijan Republic’s Caspian Sea Oil Fleet. The "Azerbaijan Caspian Shipping" CJSC has two shipyards and offshore support and commercial fleets. The merchant fleet has 51 ships: 20 tankers, 12 ferries, 16 dry cargo, 1 Ro-Ro, and 2 Ro-Pax. By integrating maritime fleets, the "Azerbaijan Caspian Shipping" CJSC takes on high-level responsibilities.
