A Bay Off Southern Greece Becomes a Cog in Russia’s Oil Supply Chain
- Tens of millions of barrels of Russian oil switched off Greece
- Cargo switching activity taking place in international waters
Source: Bloomberg
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Millions of barrels of Russian crude and fuels have been switched between tankers just a few miles off the coast of Greece, one of a series of workarounds that traders have used to overcome European Union sanctions against Moscow.
At least 23 million barrels of Russian crude and additional volumes of refined fuels have been transfered from one tanker to another in the Bay of Lakonikos since the start of this year, according to tanker tracking by Bloomberg. Greek authorities say their scope to intervene is limited because the activity is happening outside of a six-mile limit to the country’s territorial waters in the area.