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The Maltese Herald

€2.25 billion oil sale to Nigeria from Hurd’s Bank registered in Malta went untaxed

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by

Mark Camilleri
in

The Maltese Herald can confirm that the €2,25 billion oil sale made in Hurd’s Bank to Nigeria via ship-to-ship transfer went untaxed by the Maltese authorities. The sale was registered by Nigerian authorities as having taking place in Malta, but the Maltese authorities have no record of this sale and no tax records about it.

A recently-published UNSC report has revealed that oil trafficking activity in Hurd’s Bank is highly regular.

Malta is potentially losing billions of Euros of tax revenue by allowing foreign ships and authorities to openly declare they are trading oil in Malta in Hurd’s Bank without officially registering or taxing their sales in Malta.

Comments

3 responses to “€2.25 billion oil sale to Nigeria from Hurd’s Bank registered in Malta went untaxed”

  1. Malta's undocumented Chinese oil imports - The Maltese Herald avatar
    Malta's undocumented Chinese oil imports - The Maltese Herald

    […] has become a major oil trading hub in the Mediterranean with wholesale oil traders making big trades from Malta and Hurd’s Bank. China is declaring it is exporting hundreds of millions of Euros worth of […]

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  2. Exclusive: Alkagesta investigated by the UK and EU authorities over Russian oil sales to Libya - The Maltese Herald avatar
    Exclusive: Alkagesta investigated by the UK and EU authorities over Russian oil sales to Libya - The Maltese Herald

    […] sales that were transacted in Hurd’s Bank have also occasionally been registered in Malta but the actual sales and transfers taking place in […]

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  3. Malta's contribution to the Russian Shadow-Fleet and the Russian oil trade - The Maltese Herald avatar
    Malta's contribution to the Russian Shadow-Fleet and the Russian oil trade - The Maltese Herald

    […] there was the report of the large oil sale to Nigeria from Maltese territory, it was obvious that in Malta there was a large oil trader that had the […]

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