Media: Greek shipowners have begun to refuse to transport Russian oil

Greek shipowners are reducing their shipments of Russian oil ahead of the EU’s new price cap.

This is reported by Energy Intelligence.

According to Brussels’ decision, the maximum price for Russian oil transported by sea will vary depending on market conditions, and European companies will be prohibited from insuring and servicing tankers if the cargo value exceeds the set limit. This mechanism should increase sanctions pressure and reduce Russia’s oil revenues.

Sources noted that the activity of Greek carriers is noticeably decreasing. Companies fear secondary sanctions, which could lead to loss of access to international insurance and financial services, as well as disruption of contracts with global customers.

The reduction in the number of Greek tanker voyages is forcing Russia to increasingly rely on the so-called “shadow fleet”.

Recall that the new dynamic price ceiling for Russian oil will come into effect on September 3, 2025.