Billion-dollar oil smuggling: Alkagesta and Blue Rose supplied the Ukrainian market with Russian fuel during the war, bypassing sanctions
Alkagesta delivers Russian oil to Ukraine through transit routes in Romania.
The movements of the Blue Rose tanker, associated with Alkagesta, have attracted the attention of foreign media, according to an investigation by Libertatea.ro.
AIS data (Automatic Identification System) and maritime documentation indicate that the Blue Rose tanker, associated with Alkagesta, carried out a series of operations in Turkey, Malta, and the Caspian Sea region in July–August 2025.
Multiple port visits, significant draft fluctuations, and prolonged stays have raised suspicions about the true nature of the loading and unloading operations. This information has drawn the attention of investigative journalists and maritime industry experts, who pointed to a possible case of non-transparent oil product trading in the current tense geopolitical situation.
According to journalists, Blue Rose has been recorded at various locations, including Yalova in Turkey, anchored in Istanbul, Malta Freeport, and bunkering zones. Changes in the draft indicate cargo operations.
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The route of the Blue Rose tanker in recent months
AIS data show that on July 24, 2025, Blue Rose departed from the Dardanelles area for Yalova (Turkey), where it stayed for about two weeks — until August 11. Such a lengthy stay is characteristic of large-scale cargo operations.
The ship’s draft changed significantly:
- Upon leaving Yalova — 4.6 m (light loading)
- Upon arrival at Malta Freeport — from 7.2 to 11.4 m
These changes indicate loading or unloading of cargo. Experts note that such fluctuations are atypical for regular commercial vessels.
In Malta, Blue Rose repeatedly entered the OPL zone and bunkering stations, and also briefly visited Freeport, likely for refueling or other logistical operations. This indicates that the vessel was not merely in transit but was engaged in specific manipulations with oil products.
Unidentified cargo origin
Foreign media report that 22,500 tonnes of Russian oil were detained in Albania, heightening suspicions about the origin of Blue Rose’s cargoes.
Previously, Alkagesta transported oil to Turkey, officially declared as of "Turkmen origin", but AIS tracks and commercial logs point to a Russian source. Ship-to-ship transfers in the Mediterranean and draft changes confirm complex cargo operations.
Besides the Mediterranean Sea, Turkish and Maltese ports, Blue Rose was also documented in September 2025 in the Russian port of Novorossiysk — raising additional questions about the nature of the cargoes and connections with Russian interests during the war.
The company Alkagesta, under which Blue Rose operates, is registered in Malta and has corporate ties with Caspian Oil & Gas Ltd, linked to major Russian companies Sibur and Tatneft. Shipmar DMCC also figures among its partners, indicating an extensive international network involved in oil product operations.
According to journalists, in June 2024, Romania became the second-largest exporter of diesel fuel to Ukraine, occupying 29.3% of the market — after Lithuania (43%) and surpassing Poland (21%).
In this flow, Alkagesta is one of the key players alongside companies Oscar Downstream (Romania), Vitol (Switzerland), SOCAR (Azerbaijan), and Euronova Energies (Switzerland). According to a NaftoRynok report, Oscar Downstream’s business volumes have doubled in recent years, but Alkagesta also maintains a significant share in the supply of diesel fuel to Ukraine.
Journalists note that Alkagesta, SOCAR Petroleum, and Vitol did not respond to inquiries about product origin and exports, while Oscar Downstream and Oil Terminal provided detailed explanations and assured that they had no connection to Russian oil products after 2023.
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Impact of the war on the fuel market
Journalists’ data for 2024 and independent research indicate that the war in Ukraine significantly increased fuel flows in the region. Due to restrictions in other countries, notably in Poland, Romania became a key exporter. In April–May 2024, it supplied over 50% of the diesel fuel entering Ukraine, and the role of Romanian companies grew significantly amid the crisis.
