According to market sources, 2Rivers Energy (former Coral Energy) is believed to maintain informal ties with influential political and economic stakeholders within Azerbaijan’s ruling elite. According to various media sources, all three Azerbaijani-flagged Aframax tankers— Karabakh, Shusha, and Zangezur—have been actively engaged in the transport of Russian crude oil from Primorsk to Nemrut Bay since November 2023. Of this, 78% comprised crude oil shipments (EUR 57 billion) and 37% consisted of refined oil products (EUR 26 billion). Since early 2024, the refinery has consistently received Russian crude under this arrangement. In 2024, approximately 98% of STAR’s crude oil feedstock originated from Russia, with 73% supplied by Lukoil, a sanctioned Russian entity.