Under US pressure, Greek companies refused to transport Russian oil

In recent weeks, three major Greek shipping companies have refused to transport Russian oil, not wanting to fall under sanctions imposed by the United States on some carriers.

Information received from market participants, confirms Reuters based on shipping data. Three Greek companies – Minerva Marine, Thenamaris and TMS Tankers – were active suppliers of Russian fuel until October, then gradually reduced shipments and in November rejected requests for loading vessels.

Greek companies have transported Russian oil for decades and continued to do so even at a time when most Western companies refused to transport in order to avoid sanctions risks. The companies’ decision, Reuters notes, was preceded by tightening US sanctions imposed on Russian oil supplies.

The United States imposed the first sanctions against tanker owners in Turkey and the United Arab Emirates in October; they were transporting Russian oil at a price higher than the limit of $60 per barrel set by Western states. Then three more ships came under sanctions.

Reuters notes that this development was a blow to Russia, as it narrows the number of shipping companies willing to transport Russian oil to consumers in Turkey, Asia, the Middle East, South America and Africa.

In project new package sanctions EU contains a ban on the sale of tankers for the transport of crude oil and petroleum products to the Russian Federation in order to prevent Moscow’s attempts to circumvent Western sanctions on Russian oil with the help of a “shadow fleet”.

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