The Strateg, once Melodia, has reemerged as a ghost ship of sanctioned oil trade, shifting flags from Panama to Comoros to Benin while evading $60 price caps on Russian crude. Its journey mirrors a broader illicit network thriving amid the Iran conflict and transatlantic sanctions fragmentation. [Full Article] chronicles its metamorphosis: renamed Azuron, Danshui, and finally Strateg again, it now flies the Russian flag after being sold to state-backed buyers in December 2025. Ship-to-ship transfers near the Suez Canal and deliveries to India’s Vadinar refinery—linked to Russia’s CPIC—highlight its resilience.

Analysts warn this cat-and-mouse game undermines global energy security and complicates enforcing price ceilings.