Due Diligence carried out by the STC on the Mercantile & Maritime Group !!!

Rajiv Servansingh nous dit que “De toute façon, il y a une clause du contrat qui stipule que les produits pétroliers destinés à Maurice ne doivent pas provenir d'un pays sous un embargo ou une sanction internationale”.

What kind of due diligence have they carried out ? This reminds us of the Sobrinho saga !

A recent article in FT had alerted us that “Vitol and Gunvor, two of the world’s largest independent energy traders, remain significant buyers of refined oil from Russia more than a year after both companies pledged to drastically reduce their business with Moscow following President Vladimir Putin’s full-scale invasion of Ukraine. Analysis of export records filed with Russian customs in the first four months of 2023 show that both companies were among the top-10 buyers of refined products, such as petrol and diesel.”

Amur Trading SA (among the ten top traders of Russian oil), a Swiss-registered company, is jointly controlled by Vitol and the Singapore-based Mercantile & Maritime Group. Mercantile & Maritime Group (MMG), is also suspected of distributing petroleum products from other countries (Venezuela) sanctioned by embargoes.

Our Rajiv of STC “kroir lin kas enn grand paké” but we may end up “dans de beaux draps”.

Moreover, …“anyone who thinks that a normal company would trade oil in local Mauritian currency must be nuts. “