Major Greek oil carriers have refused to work with Russia after the US tightened controls on the price ceiling on Russian oil.
Reuters writes about this with reference to market participants and sea transportation data.
The companies Minerva Marine, Thenamaris and TMS Tankers refused to transport Russian oil. They have rejected requests for oil transportation since November.
In recent weeks, the United States has significantly tightened controls on compliance with the $60 per barrel ceiling price for Russian oil, and has also imposed sanctions on carriers — one from Turkey and four from the UAE.
The fact that Greek transporters began to refuse Russia is considered by the market as a blow to the Russian Federation. The three Greek companies in question have transported Russian oil for decades and continued to do so when most other Western companies gave up. They have about 100 tankers, which are now unavailable to the Russian Federation. To transport all Russian oil, the shadow fleet of the Russian Federation may not be enough.
- On December 5, 2022, the countries of the European Union and the "G7" and Australia introduced a price limit for Russian oil of $60. These countries, with some exceptions, have agreed to buy and transport oil from Russia only if its price does not exceed $60 per barrel. In the West, the introduction of this restriction is explained by the fact that it will reduce revenues to the Russian budget and limit Russiaʼs ability to finance the war.