The Ukrainian government is attempting to put pressure on some famous names in Greek shipping who continue to trade with Russia.
George Economou’s TMS Tankers, George Prokopiou’s Dynacom Tankers along with Andreas Martinos’s Minerva Marine, Nikolas Maritnos’s Thenamaris, and Diamantis Diamantidis’s Delta Tankers have been added to the list on the War and Sanctions website created by the Ukrainian government as possible candidates for sanctions as have three high-level individuals from the Liberian Registry.
Launched in April last year the War and Sanctions portal highlights people and corporations who have already been sanctioned since the beginning of war with Russia, as well as suggesting further candidates for sanctions using Refinitiv as a data provider.
The share of Greek tankers taking oil out of Russia fell to 40% last month from a peak 61% in April last year, according to data from the International Institute of Finance.
Greek owners have repeatedly hit out at the ineffectiveness of sanctions, with the topic forming much of the debate at many of the conferences at last year’s Posidonia in Athens.
Greek and other foreign owners are allowed to transport crude and products out of Russia under an agreed price cap.
One of the most discussed, debated questions in shipping these days is the size of the so-called dark or shadow fleet, the vast array of tankers that are travelling the world’s oceans under the radar, trying to avoid sanctions.
As of February 21, Splash’s own detailed investigation into the scale of this growing phenomenon found the shadow tanker fleet totalled 421 ships. For dirty tankers, this comprises 150 aframaxes, 49 suezmaxes and 104 VLCCs, while on the clean front, Splash has counted five handies, 17 LR1s, three LR2s, and 93 MRs.
Coming up with its own estimate, brokers Braemar estimates the grey fleet to be above 400 vessels.
Tell the Greek 🙄 $ Talks. Only support themselfes.
Perhaps some EU pressure on three EU flag states (CY,MA and GRC) could make the sanctions more effective. But then the cynics will prevail, and just swap flag to the great state of the Marshall Islands.
Palau and Cameroon flagged ships will help Russians anyway. Perhaps, three EU flags (CY,MA and GRC) are already tired of useless sanctions and EU stupid bureaucracy.
People like you talk as if Russia trading in selling its goods is illegal. Just because my neighbour tells me what I’m doing is illegal doesn’t make it so. Fewer and fewer countries and now excepting that America is the self appointed world policeman. As country which makes up the rules as it goes along. Iraq Syria anyone
You or your parents did not say this in WW2 iif they or you lived in Western Europe.
So why dont the greeks put sanctions on ukraine ships that transport grain
Take the fuel but pay Ukraine or have Ukraine confiscate the vessel and sell to Countrys.
I thought that Greece was part of the EU.WHY!!in that case are they dealing with Russia considering the sanctions against Russia.Is it that Greece is backstabbing the EU.
No, Greece is not backstabbing the EU. Rather the EU is backstabbing its own citizens with useless sanctions creating more poverty.
When will people realize the sanctions are not in place to stop Russia selling oil, they are there to reduce the money Russia gets from selling oil ie the cap. You stop Russian oil and it goes to $300 bbls…!! As for the dark fleet they seem to have no issue finding employment amongst EU companies.
Make Peace for WORLD. SOME COUNTRY ALREADY SUFFERING. NO ONE SHOULD SUFFER . SPECIALLY CHILDREN MAKE THE PLANET A HEAVEN OF JOY.
I’m disgusted. I’m ashamed to be a national of that country. A country that is more fitting to belong to the 3rd World rather than the European Union. A country that allows the rich to run its economy and allows these same rich people to get away with grave crimes of morality. Greek Parliament should have stepped in and put an end to the powers of the ship owners and other shameless moral law breaking businessmen years ago.