Some of Australia’s biggest superannuation funds have been accused of profiting from shipments of Russian oil passing through South-East Asia, raising fears that Australians’ retirement savings are helping fund Vladimir Putin’s war against Ukraine.

An estimated 1 million tonnes of Russian oil have been offloaded over the past two years at a shipping terminal in Malaysia co-owned by a company in the portfolio of an investment vehicle controlled by a consortium of Australian industry super funds.

As the war in Ukraine approaches its fifth year with no end in sight, smashing the Russian oil sector’s business model has emerged as a major priority for Western governments seeking to gain the upper hand over Putin.

The Albanese government is investigating ways to close loopholes in sanctions i

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