US sanctions 5 S'pore-based firms for enabling Russia's war effort in Ukraine

The U.S. government sanctioned five Singapore-based firms for their roles in enabling Russia’s efforts in the ongoing war in Ukraine.

They have also been added to the list of Specially Designated Nationals by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC).

The U.S. Department of State said on Oct. 31 that the country took action against nearly 400 entities and individuals globally for “enabling Russia’s prosecution of its illegal war”.

Amongst the firms named were five Singapore-based firms.

The firms are:

• Powerman International
• LNG Alpha Shipping Pte Ltd
• LNG Beta Shipping Pte Ltd
• LNG Delta Shipping Pte Ltd
• LNG Gamma Shipping Pte Ltd

Powerman International, based in Prudential Tower in Cecil Street, shipped approximately US$4.5 million worth of common high-priority list items, including motherboards and uninterruptible power supply systems, to Russia-based companies between March 2023 and February 2024, the Department of State said.

The other four firms, all registered under the same address at Fortune Centre in Middle Road, were identified as being part of a network of shipping companies that helped Novatek, Russia’s largest liquefied natural gas (LNG) producer, procure vessels for its operations.

"The Arctic LNG 2 project has relied on foreign service companies’ technology and maritime logistics support," the Department of State said.

"In an attempt to circumvent U.S. sanctions and revitalise Russia’s Arctic LNG 2 project, Russian companies have engaged in efforts to procure secondhand LNG tankers, predominantly through front companies in third country jurisdictions, to make up for a critical shortage of available tankers for the Arctic LNG 2 project," they added.

The four firms are all majority-owned by New Transhipment FZE, a Novatek subsidiary based in the United Arab Emirates.

LNG Alpha Shipping Pte Ltd is directed by Russian nationals, and is a joint venture created for the construction and long-term charter of LNG carriers to Novatek, the department said.

Top photo via Google Maps & vicktop55/X