She is a key player in the system that allows the aggressor country to bypass international oil trade restrictions, according to the British government. The sanctions aim to reduce the oil revenues that the aggressor country needs to sustain its war in Ukraine.
The Wall Street Journal suggests that the name change is an attempt to shed the reputation of being an accomplice to the Russian Federation. The owners of the firm, entrepreneurs from Azerbaijan, claimed that they halted operations with Russian fuel at the end of 2022. The publication states that the former Coral Energy supported the Russian oil industry after Western trading companies exited the country.
A representative of 2Rivers Group told WSJ that the company plans to challenge the sanctions through legal and diplomatic channels. According to her, the British decision "does not reflect the current structure, leadership, and operations of the company following significant transformations."
The company assured that it has completely severed ties with the Russian oil market. They believe they were sanctioned due to former employees in Moscow who allegedly use its name without permission.