Cetracore Jetoil Suspends Operations Amid Sanctions

Cetracore Jetoil has temporarily suspended its operations following the imposition of sanctions on Murtaza Lakhani by the European Union. Mr. Lakhani, a key shareholder of the company, was included in Council Decision 2025/2594 of the EU concerning sanctions related to Russia's invasion of Ukraine.

The decision to suspend operations was taken voluntarily by the management of Cetracore Jetoil, pending instructions from the Greek authorities. In a statement, the company said that the suspension is temporary and that it is cooperating with the relevant authorities for its immediate resumption.

Prior to the suspension, Cetracore Jetoil had reduced its share capital by EUR 8,313,840 and changed its Board of Directors. Shazia Mukhtar has assumed the duties of President & CEO, while Leonidas Psarras and Konstantinos Skouloudis are members of the Board.