Allegations of Russian Oil Routes Through Malta Raise New Questions After Tanker Incident
Media reports have alleged that Alkagesta is under scrutiny by EU and UK authorities over suspected Russian oil sales routed toward Libya. What follows refers to reporting that appeared in the foreign press. If these allegations are accurate, an obvious question arises: could the recent incident involving a Russian tanker that reportedly suffered severe damage after being struck be directly or indirectly connected to the wider allegations concerning suspected Russian energy flows routed toward Libya via Malta and offshore transfer points in the central Mediterranean? At this stage, however, no such connection has been publicly established.
The allegations claim that in at least two recent cases, cargoes of Russian-origin petroleum products destined for Malta and Libya were accompanied by documentation describing them as Kazakh-origin. Such practices, if substantiated, could indicate sanctions evasion or risks of origin misdeclaration.
The reports further claim that Malta’s offshore anchorage at Hurd’s Bank remains an important node in Mediterranean ship-to-ship oil transfers, and that the actual volume of transactions there may be underreported. They also situate Malta within a wider network linking Syria, Egypt, Cyprus, Libya, and the central Mediterranean in what industry observers describe as a growing “dark fleet” economy.
EU and UK regulators are reportedly probing Alkagesta over alleged illegal shipments of Russian oil to Libya.
Alkagesta, which holds the most voluminous oil bunkering operation in Malta, has also been previously suspected of being involved in the Libyan oil smuggling industry, also by using fraudulent certificates of origin for their oil product.
Libya imports around a third of its refined oil products from Russia because it does not have enough domestic refining capabilities for its own needs.
Sources cite at least two recent cases of oil tankers carrying Russian oil for Alkagesta to Malta and Libya which fraudulently claimed that the oil came from Kazakhstan.
Alkagesta uses the Austrian Raiffeisen Bank, which is one of the last remaining European banks that still operates in Russia. In Malta, Alkagesta also hired Russian-speaking employees.
Industry sources and reporters estimate that the Russian Mediterranean Dark Fleet is involved in a $10 billion industry in terms of trading volume per year with the trading routes stretching from Syria, Egypt, Cyprus, Malta and Libya. Malta is an important and strategic location for the illegal Libyan oil trade and potentially serves as a major hub for the transfer of Russian oil.
Oil sales that were transacted in Hurd’s Bank have also occasionally been registered in Malta but the actual sales and transfers taking place in Hurd’s Bank are thought to be significantly under-reported.
Alkagesta says that it has a “high level of compliance” wherever it operates. They also threatened legal action against “false accusations”.