Greece opposes sanctions on the transportation of Russian oil

Acceptance of the proposal of the European Commission to ban the transportation of Russian oil will be the gravestone for the Greek tanker fleet, which is involved in these transportations.

The European Commission proposal, which requires the unanimous support of all 27 countries to enter into force, includes a phase-out of Russian crude oil supplies in six months and its processing by the end of 2022.

Objections to new package of sanctions against Russiaproposed by the European Commission, have not only the countries of Eastern Europe, in particular Slovakia and Hungary, which have already received a reprieve on the embargo on Russian oil supplies, but also Greece.

According to diplomats, the draft of the sixth package of sanctions referred to by Financial Timesbans European ships from carrying Russian oil anywhere in the world, something opposed by Greece, whose fleet is half the capacity under the flag EU.

Other countries, including Cyprus, reacted to the proposal to ban corporate services, including accounting, for Russian companies.

According to the report, Greece, Malta and Cyprus raised the issue of banning oil supplies to third countries, stating that such a move would only help Europe’s competitors.

European Commission proposal

The proposal of the European Commission includes a phase-out by the end of 2022 of the supply of Russian crude oil and the supply of refined products, shipping, transport, insurance and financial services offered by EU companies for the transport of Russian oil.

Hungary said the sanctions would make it “impossible to supply the crude oil necessary for the functioning of the Hungarian economy”, while Slovakia, Bulgaria and the Czech Republic expressed disagreement and doubts because they relied on the USSR-built Druzhba pipeline, through which crude oil was imported oil sent to their refineries.

Hungary and Slovakia have been offered an extra year to comply with sanctions, but a Slovak official told the Financial Times his country needs least two years. Finally, according to the information, Czech Prime Minister Petr Fiala will meet with German Chancellor Olaf Solz on Thursday to ask his country for more time to support the sanctions.

The sixth package of sanctions against Moscow, concludes the Financial Times, is the most difficult so far. It should be noted that in Russia found methods to combat sanctions on the sale of oil. To bypass it, simply mix Russian oil with oil from other producing countries and – voila.

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