Maldives company denies shipping goods to Russia following WSJ report

Go Investments has denied any involvement in shipping goods to Russia after the company was named in a Wall Street Journal investigation into the alleged use of the Maldives as a transit point for goods bound for Russia.

The company said on Thursday that it had never exported or supplied goods to Russia, conducted transactions with Russian companies or received funds from Russian entities.

Go Investments was named alongside Maldivian logistics company Freight Care in a report published by The Wall Street Journal on Tuesday.

The report said the Maldives had been used as a transit route for goods sent to Russia following Western sanctions imposed over the war in Ukraine. It alleged that shipping documentation was changed as part of the process through which goods entered the Maldives before being re-exported to Russia.

Speaking to Dhauru, a senior Go Investments official rejected the company’s alleged involvement.

The official said Go Investments operates a retail business in the Maldives selling computers and telecommunications equipment and does not hold a licence to provide cargo or logistics services.

“We are not a business engaged in cargo or logistics services,” the official said.

Go Investments said it had never exported or supplied goods to Russia or to any Russian company or institution. It also said it had never imported goods from Russia.

The company said it has no contractual or commercial agreements with Russian companies.

According to Go Investments, no payments have been made from its bank accounts to Russia or to Russian companies or institutions. It also said it has never received funds from Russia or any Russian entity.

The Wall Street Journal investigation reported that goods manufactured in Europe, the United States and China, including microchips, electronics, satellite optical equipment and aircraft parts, had been transported to Russia through the Maldives.

The report said some of the goods have dual-use applications, meaning they can be used for both civilian and military purposes. Components such as microchips and electronics can also be used in missile guidance systems, drones and military communications equipment.

Go Investments maintains that it has not participated in the shipment of such goods to Russia and has no commercial or financial relationship with Russian entities.