Greek tankers halt Russian oil shipments amid Trump sanctions
Illustrative photo: Greek tankers refuse to transport Russian oil (Getty Images)
Greek tanker companies, which analysts say account for up to one-third of Russia's oil exports, are refusing to work with Russian oil producers due to US sanctions, The Moscow Times reports.
According to unofficial data, Greek tankers have transported minimal volumes of Russian oil since the start of the month. Earlier this year, they were shipping between 10 and 20 million barrels from Russia every month.
Currently, the transportation of Urals crude is largely handled by vessels from the so-called shadow fleet.
After increased US sanctions pressure, freight costs have risen significantly. Delivering a single Urals shipment from the ports of Primorsk and Ust-Luga to India previously cost around $7 million, but the average rate has now surpassed $8 million, with some shipowners charging as much as $10 million per voyage.
Trump's sanctions
Last week, US President Donald Trump imposed sanctions on Russia's largest oil companies, Rosneft and Lukoil, which together account for roughly half of the country's oil production and exports.
At the same time, the European Union approved its 19th sanctions package, adding another 117 tankers from the shadow fleet to the blacklist, bringing the total to 558.
Against this backdrop, Russian leader Vladimir Putin claimed that the new restrictions would not have a significant impact on Russia's economy.
He also accused the United States of unfriendly actions and of trying to pressure Russia into ending the war against Ukraine.
