Greece Emerging as Hub for Russian Ship-to-Ship Fuel Oil Transfers

Russian fuel oil arrivals offshore Greece jumped to record levels in April, as sanctions on Moscow drive traders to find new ways to export Russian oil via ship-to-ship (STS) loadings, Refinitiv Eikon data showed and sources said.

Trading Russian crude and oil products remains legal for now as the European Union is yet to fully agree on a proposed embargo, but banking and other financial sanctions on Russia following its invasion of Ukraine on Feb. 24 has made it increasingly more difficult to do so.


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