The UK government on Friday imposed new sanctions targeting Russia, including asset freezes on several directors of the oil trading firm formerly known as Coral Energy Group, now operating
as 2Rivers Group.
The sanctions are part of a broader crackdown that includes restrictions on approximately 100 Russian oil tankers from the so-called "shadow fleet." The announcement coincided with a meeting of the Joint Expeditionary Force (JEF), a northern European security alliance, held in Norway.
The UK named five individuals — Ahmed Kerimov, Tahir Garayev, Anar Madatli, Talat Safarov, and Etibar Eyyub — stating that they had supported or benefited from the Russian government through their roles at Coral Energy Group.
Coral Energy rebranded as 2Rivers Group following a 2024 management buyout led by Safarov, Kerimov, and Madatli. Originally founded by Garayev in 2010, the company previously maintained offices in Dubai and Singapore.
According to UK authorities, Coral Energy operated within Russia’s strategically vital energy sector. The 2Rivers Group itself was sanctioned by the UK in December 2024. At the time, the company expressed strong disappointment with the decision. Photo by sergejf, Wikimedia commons.