How the shadow fleet is capitalising on the chaos of war
December 2022
The Strateg, originally named Sorry and sailing under the Marshall Islands flag, is part of a fleet exporting crude oil from Russia
June 2023
The ship is renamed Li Bai and changes its flag to Panama
2024
It makes calls to Russian ports where oil consistently breaches the $60 price cap
January 2025
The vessel is placed under sanctions by the US
February 2025
Renamed Azuron and registered under a false Guyana flag
April 2025
Renamed Danshui and registered under a false Comoros flag
May 2025
Sanctions imposed by the EU
July 2025
Sanctions imposed by the UK
Registered under a false Benin flag
December 2025
The vessel, now in effect stateless, is reportedly sold to Russian buyers. Photographs show it entering the Bosphorus Strait with a freshly painted Cyrillic name, Strategistand flying the Russian flag
February 2026
FT analysis of ship tracking data and satellite imagery analysis shows the Strategist engaging in ship-to-ship transfers with other vessels under sanctions near the Suez Canal
March 2026
The vessel is en route to deliver crude to the Vadinar refinery on India’s west coast, a facility backed by Russia’s state oil company
