Greek shippers exit Russian oil trade
Three major Greek shipping firms have stopped transporting Russian oil in recent weeks in order to avoid US sanctions now being imposed on some shipping firms carrying Russian oil, four traders told Reuters and shipping data showed.
The development is a blow to Russia as it narrows the number of shipping firms that are ready to transport Russian oil to consumers in Asia, Turkey, the Middle East, Africa and South America – although traders said Moscow still had enough shipping firms for now.
Greek shippers Minerva Marine, Thenamaris and TMS Tankers have stopped transporting Russia oil in recent weeks, the four traders said.
Thenamaris said it doesn’t comment on commercial matters. Minerva Marine and TMS Tankers didn’t respond to requests for comment.
All three firms were active shippers of Russian oil and fuels up until September-October, when they started scaling down their involvement, according to the traders and data from shipping agents seen by Reuters.
All three companies turned down requests for vessels for Russian crude loading in November and later, said the traders, who previously collaborated with the three firms.
The Greek shippers’ exit from the trade followed tighter US sanctions imposed on Russian oil shipments.
The three Greek firms had been shipping Russian oil for decades and continued to do so when most other Western companies quit running the routes to avoid rising sanction risks and the imposition of the price cap. [Reuters]
