Russian tankers find a new hot spot near Greece
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The movement of Russian fuel cargo between tankers has found new locations off the coast of Greece. The country has used naval exercises to try to limit activity in this area of the sea.
This was reported by Bloomberg.
The shadow fleet is operating off the coast of Greece
According to the analytics firm Vortexa, around 1 million barrels of diesel fuel, fuel oil, and other petroleum products are transferred each month near the islands of Lesbos and Chios in the Aegean Sea. The area became popular after the Greek navy conducted exercises around the Laconian Gulf, which was previously the most favored transfer location in Europe.
The influx of Russian oil and fuel onto ships in and around Europe has raised concerns about the safety and insurance of the vessels involved.
These operations, sometimes carried out covertly, can help conceal the oil's origin, aiding in bypassing sanctions. They also create an additional layer of separation between cargo sellers and buyers.
Ship-to-ship transfers continue near the Laconian Gulf but at a much slower pace since the start of Greece's naval exercises. The maneuvers have left a narrow stretch of water undisturbed, and transfers are still being conducted there.
Since May, when the Greek navy began its exercises, these transfers have regularly taken place near the Italian port of Augusta. On November 14, the exercises were extended until March, forcing the tankers to seek alternative routes.
Expansion of Russia's shadow fleet
Such operations involve the so-called "shadow fleet" — vessels operating under international sanctions, enabling Russia to continue exporting substantial volumes of diesel fuel and fuel oil (around 3.5 million tons monthly) through complex logistical schemes.
Beyond the Aegean Sea, petroleum products are actively transferred by tankers in international waters near Africa, Turkey, and even the Red Sea. Thus, sanctions evasion is becoming a globally widespread practice.
As a reminder, Indian exports of sanctioned goods, including machinery and microchips, to Russia have increased. This became possible due to Russia's significant reserves of rupees from oil sales to India.
We also reported that drones attacked a Rosneft oil depot in Kaluga. There were no casualties, but the attack damaged several storage tanks.
