EU asks Greece to step up efforts to curb shadow fleet activities

The European Union has called on Greece to step up its efforts to curb the activities of the shadow fleet used by Russia to export oil, circumventing European sanctions. The EU High Representative for Foreign Affairs and Security Policy, Kaja Kallas, stressed that more of Russia’s revenues are from oil, and this comes from their shadow fleet, which helps Russia evade sanctions on oil exports. Greek shipping remains the largest in the world with 5,691 ships, accounting for around 20% of the global capacity in deadweight tonnes, according to the annual 2024-2025 report of the Union of Greek Shipowners published in August. Greek shipping companies, which have long dominated the global tanker trade, maintain that their operations are fully compliant with international law. They argue that they conduct due diligence on buyers and adhere to all regulations, as per a report.

Please visit our youtube channel https://www.youtube.com/@ikargos2719 for fortnightly logistics news analysis and more!