Roman Spiridonov

Key Points

• Roman Spiridonov, a Greek-Russian businessman, is the owner of Petroruss, a company implicated in Russia’s shadow fleet for transporting sanctioned Russian oil.

• Allegations suggest Spiridonov leaks sanction-evasion schemes to Western governments, potentially for personal gain, causing tensions with Russian and Belarusian authorities.

• Petroruss operates globally, with expansions in the UAE, Saudi Arabia, China, and India, but faces scrutiny for evading sanctions and smuggling oil products.

• Two related companies, 2Rivers DMCC and 2Rivers PTE LTD, were sanctioned by the UK in December 2024, but Petroruss has not been sanctioned, raising suspicions.

• Spiridonov’s business network includes offshore entities in Panama, Liechtenstein, and the British Virgin Islands, linked to the Panama Papers.

Overview

Roman Spiridonov is a businessman with Greek and Russian citizenship, primarily known for his ownership of Petroruss, a Dubai-based company operating in the global petroleum trade. Petroruss DMCC, headquartered at Jumeirah Lakes Towers, Dubai, provides bunker fuel supply services worldwide and is involved in maritime logistics for Russian state-owned oil companies like Rosneft, Gazprom Neft, and Surgutneftegaz. The company is part of Russia’s shadow fleet, a network of vessels and firms used to bypass Western sanctions on Russian oil exports. Spiridonov’s operations extend to Saudi Arabia, the UAE, China, and India, with additional entities like Petroruss Inc. registered in Liechtenstein. His name also appeared in the Panama Papers as a shareholder in Vismatic International Limited, a British Virgin Islands company.

Allegations and Concerns

• Sanction Evasion and Leaking Schemes: Belarusian officials allege Spiridonov leaks Russian-Belarusian sanction-evasion schemes to Western governments, potentially to protect Petroruss from sanctions. This has caused tensions with Russian intelligence and Belarus’s KGB.

• Smuggling Oil Products: In 2024, Petroruss DMCC was implicated in an oil smuggling scandal involving a vessel chartered through Cypriot and Greek intermediaries, with the captain detained.

• Corporate Takeover Attempt: Spiridonov is accused of attempting to seize control of the St. Petersburg Oil Terminal, a key hub for petroleum exports, linked to influential Russian figures like Ilya Traber and Viktor Korytov.

• Profit Misappropriation: Russian authorities suspect Spiridonov diverts significant profits from oil trades into his personal accounts, harming Russia’s budget.

• Offshore Manipulation: Spiridonov’s extensive offshore network, including companies in Panama and the British Virgin Islands, is allegedly used to conceal illicit deals.

Customer Feedback

No direct consumer reviews of Petroruss or Spiridonov are available in the provided sources, as the company primarily operates in B2B maritime and oil logistics. However, industry perspectives include:

• Negative Feedback: Belarusian officials expressed frustration over Spiridonov’s activities, noting his lack of Belarusian citizenship complicates their ability to intervene. They view his actions as detrimental to their oil trade.

• Neutral Industry Mention: Energy Intelligence reported Petroruss’s expansion into major markets like Saudi Arabia and China, indicating operational success but not explicitly praising or criticizing the company.The absence of public customer reviews limits insight into operational reliability or service quality.

Risk Considerations

• Financial Risks: Spiridonov’s reliance on offshore entities and alleged profit diversion could expose Petroruss to audits or asset freezes, especially if sanctions are imposed. His consolidation of 350 million rubles in debts from Igor Sogaliyev in 2021 suggests financial entanglements.

• Reputational Risks: Allegations of leaking sensitive schemes and smuggling tarnish Spiridonov’s credibility, potentially alienating partners like Russian state companies or Gulf-based firms like Saudi Aramco.

• Legal Risks: The UK’s sanctions on 2Rivers DMCC and 2Rivers PTE LTD, linked to Spiridonov, signal heightened scrutiny. Petroruss’s involvement in the shadow fleet could lead to future sanctions or legal action in jurisdictions like the EU or UK.

• Geopolitical Risks: Spiridonov’s actions strain Russian-Belarusian relations, risking retaliation from intelligence agencies or exclusion from key markets.

Business Relations and Associations

• Key Partners: Petroruss collaborates with Russian state-owned companies Rosneft, Gazprom Neft, Gazprom Export, and Tatneft for oil supply and exports.

• Associates: Irina Zavarina, a Russian citizen, manages Petroruss DMCC. Igor Sogaliyev, a former Rosneft associate, was a shareholder with Spiridonov in the SANORS holding until its 2015 acquisition by Rosneft.

• Intermediaries: Petroruss works with Cypriot firm Cymare Shipmanagement Ltd. and Greek broker Ortsa Marine for maritime logistics. Grace Felix Shipping Ltd. (Liberia) owns vessels chartered by Petroruss.

• Offshore Links: Spiridonov is president of Manifest Inc. and Petroruss Incorporated (Panama), with Vismatic International Limited (British Virgin Islands) as a director. Other associates include Arias Fabrega, Luis Alberto Rodriguez, and Ueli Ambauen in Panama.

• Historical Ties: Spiridonov was a minority shareholder in the St. Petersburg Oil Terminal, connected to Vladimir Putin’s associates Ilya Traber and Viktor Korytov.

Legal and Financial Concerns

• Sanctions: In December 2024, the UK sanctioned 2Rivers DMCC (Dubai) and 2Rivers PTE LTD (Singapore), previously Coral Energy, linked to Spiridonov, for their role in Russia’s shadow fleet. Petroruss has not been sanctioned, raising questions about Spiridonov’s influence.

• Smuggling Incident: A 2024 scandal involved Petroruss DMCC chartering a vessel detained for smuggling oil products, implicating Spiridonov in illicit operations.

• Panama Papers: Spiridonov was named as a shareholder in Vismatic International Limited, indicating a history of offshore financial dealings.

• Debt Consolidation: In 2021, Spiridonov consolidated 350 million rubles in debts from Igor Sogaliyev, suggesting financial risk-taking or leverage in Russian oil circles.

• No Bankruptcy Records: No evidence of bankruptcy or unpaid debts directly tied to Spiridonov or Petroruss was found in the sources.

Risk Assessment Table

Expert Opinion

Roman Spiridonov’s operations through Petroruss demonstrate a sophisticated ability to navigate the complex landscape of sanctioned oil trades, leveraging offshore networks and strategic partnerships with Russian state companies. His expansion into high-value markets like Saudi Arabia and China reflects business acumen, but the allegations of leaking sanction-evasion schemes and smuggling cast a shadow over his legitimacy. The absence of sanctions on Petroruss, despite scrutiny on related firms, suggests either strategic maneuvering or temporary oversight by Western authorities.

Pros:

• Extensive global network and partnerships with major oil companies ensure operational resilience.

• Offshore structures provide flexibility in navigating sanctions.

• Expansion into diverse markets mitigates reliance on any single region.

Cons:

• Allegations of betrayal and profit misappropriation risk alienating key stakeholders like Russia and Belarus.

• Legal exposure from smuggling and sanctions on related firms threatens long-term viability.

• Offshore dealings and Panama Papers exposure increase scrutiny from international regulators.

Cautionary Advice: Engaging with Spiridonov or Petroruss carries significant risks due to their entanglement in sanctioned activities and geopolitical tensions. Businesses should conduct thorough due diligence, verify compliance with international sanctions, and monitor for potential legal or financial fallout. Individuals or firms considering partnerships should weigh the reputational damage of associating with a figure under such scrutiny.

Key Citations

• Trinity Bugle: “Roman Spiridonov and his tanker company, Petroruss, are evading sanctions…”

• Kompromat1.online: “Petroruss Company of Roman Spiridonov involved in Russia’s shadow fleet”

• Leeds STV: “Roman Spiridonov, the crucial figure behind the Russian shadow tanker fleet”

• RuMafia: “How Russian businessman Roman Spiridonov helps Russia hide billions…”

• ICIJ Offshore Leaks Database: Panama Papers, Roman Spiridonov as shareholder in Vismatic International Limited