Greek Navy Extends Advisory To Curb Ship-to-ship Transfers Of Russian Oil Off Greece

On Wednesday, the Greek navy extended an advisory that bans ship traffic off the southeastern Peloponnese coast, which two sources mentioned was primarily targeted at deterring ship-to-ship transfers of Russia’s oil off Greece.

Greece has published two NAVTEX notices for the military exercises in the Laconian Gulf region over the past few weeks, in a rare measure urging merchant vessels and other vessels not to use the area.

One of these was issued on 1 May.

A defence ministry official reported it was initially supposed to expire on 9 May but was extended.

Following the Russian invasion of Ukraine in 2022, international sanctions made trading of Russia’s crude and oil products more complex, compelling traders to look for loopholes to export them, including offshore vessel-to-vessel transfers.

Over the recent months, the waters that surround Greece’s southern coast and the Laconian Gulf have served as oil transfer points, particularly for tankers transporting Russia’s oil to other vessels.

Vessels are typically positioned beyond the limit of 6 nm from the shore to prevent cargo and vessel checks by relevant Greek authorities.

There is no scope for inspection on a vessel with a foreign flag in international waters.

A second source who is aware of the matter explained that nothing can be done unless a vessel flies a Greek flag.

The NAVTEX advisory serves as an indirect method of deterring such activities.

A third government official declared that Athens intends to extend its advisories for military exercises in that region, which could shove away STS transfers near Greek waters.

Reuters noted that four tankers were stuck near the Laconian Gulf in April after the US imposed Iran-specific sanctions on them.

Russia has been struggling with the significant loss of insurance and other shipping services as the Western nations keep turning the screws on Moscow with financial sanctions.

EU sources informed Reuters last month that the European Commission is anticipated to propose new sanctions on oil tankers in the shadow fleet, which reportedly transport Russia’s oil outside the Group of Seven Nations (G7) oil price cap limit.

Reference: Reuters

Greek Navy Extends Advisory To Curb Ship-to-ship Transfers Of Russian Oil Off Greece appeared first on Marine Insight – The Maritime Industry Guide

Source: Maritime Shipping News