Greek Tankers Continue Russian Oil Transit Despite EU Sanctions

Kokcha News Agency — Despite recent sanctions imposed by the European Union aiming to tighten control over Russian energy exports, Greek maritime operators are expected to continue their activities.

Maritime sources reveal that, even with the latest restrictions, Greek tanker companies are maintaining their shipments of approved Russian crude oil.

A significant part of Russia’s oil is currently transported by unregulated “shadow fleet” tankers, yet data shows that Greek ships—part of the world’s largest tanker fleet—are involved in carrying Russian crude oil that either falls outside the scope of sanctions or exceeds the new price cap.

Yesterday, the EU approved its 18th round of sanctions targeting Russia’s energy sector, primarily featuring a price cap intended to prevent the purchase of Russian oil above $47.60 per barrel—about 85% below the EU’s average market price.

Nonetheless, sources from Greek shipping firms, which conduct dozens of monthly shipments accounting for roughly 20% of Russia’s oil exports, indicated they will continue operations as long as traders buy oil at the current price cap.

While the United States has yet to demonstrate full compliance with the EU’s price restrictions—mainly due to the dollar-based nature of oil transactions—the move complicates trade for European firms engaged in Russian oil, although its broader impact remains uncertain.