Greece is pushing back against a proposed EU sanctions package that would restrict its shipping industry from transporting Russian liquefied natural gas, even as new data shows Greek-owned tankers have carried a substantial share of the world’s Russian oil exports. The standoff highlights the tension between EU sanctions news and the commercial interests of member states most exposed to Russian energy trade.
Background
The question of whether Greece buys Russian oil has become more complicated since the war in Ukraine began, since Greece’s role in the Russian energy trade extends well beyond direct oil purchases. While Greece’s own crude imports from Russia have fallen dramatically, its shipping companies remain deeply involved in transporting Russian crude and fuel oil to buyers worldwide.
Recent data from marine analytics firms Windward and Vortexa showed Greek companies transported roughly 15 percent of Russian crude exports in May alone. Dynacom Tankers, founded by Greek shipping billionaire George Prokopiou, has earned hundreds of millions of dollars from Russian crude shipments since mid-2023, according to industry tracking reports.
This backdrop matters because the latest EU sanctions news centers on a proposed measure that would block EU-flagged ships from carrying Russian LNG to buyers outside the bloc. Greece owns roughly 60 percent of the EU’s shipping fleet, and officials argue the new rules would hit Greek companies disproportionately hard compared to other member states.
Details
The current dispute follows an earlier milestone: in July of last year, the EU agreed an 18th sanctions package against Russia, which included a landmark measure targeting Nayara Energy, an Indian refinery roughly 49 percent owned by Russia’s Rosneft. The Nayara EU sanctions barred European buyers from purchasing refined petroleum products made from Russian crude, even when refined in a third country like India.
That earlier package forced Nayara to cut refinery output, seek Indian government support, and shift to rupee-based payments for its Russian crude purchases after major banks and shipping firms grew wary of secondary sanctions exposure. It remains one of the clearest examples of how EU oil sanctions news can ripple far beyond Russia’s own borders.
Now, EU officials are negotiating what has been described as either a 21st sanctions package or a revised follow-up package, depending on the source, with Greece specifically objecting to new EU sanctions LNG provisions. Notably, the EU itself increased its own imports of Russian LNG by 11 percent in the first half of 2026 compared to the same period last year, a detail Greek officials have pointed to when arguing the proposed rules are inconsistent.
Athens has also raised security concerns tied to the broader conflict. In May, a fisherman discovered a Ukrainian explosives-laden naval drone, of the kind Ukraine has used to target tankers in Russia’s shadow fleet, washed up in an inlet on the Greek island of Lefkada. The incident briefly strained relations before Ukraine’s foreign ministry apologized on behalf of the country’s president.
Quotes
A senior Greek government official told Al Jazeera the country remains concerned about the risk of an oil spill and the danger posed by high explosives found near its coastline, referring to the drone incident on Lefkada.
Greece’s Deputy Foreign Minister, Haris Theoharis, said Ukraine’s apology allowed both sides to reopen communication channels and continue working together, noting he had recently signed Greece’s first memorandum outlining its support for Ukraine’s reconstruction.
The EU’s Kaja Kallas previously described the 18th sanctions package, which first sanctioned Nayara Energy, as one of the strongest rounds of measures adopted since Russia’s full-scale invasion began, underlining how seriously Brussels views enforcement of the Russian oil price cap and product bans.
Impact
The dispute over EU sanctions LNG rules carries real economic weight for Greece, where shipping and tourism together account for more than a quarter of the national economy. A sudden restriction on LNG transport could squeeze one of the country’s most important industries at a time when it is already navigating pressure over its role in Russian oil shipments.
Globally, the fight illustrates a recurring pattern in EU sanctions news: individual member states with outsized commercial exposure to Russian energy trade, whether through shipping, refining, or banking, have repeatedly sought carve-outs or delays. Each compromise has, according to critics, gradually diluted the overall pressure the sanctions regime places on Moscow.
For countries like India, the fallout from the Nayara EU sanctions showed how oil sanctions news can reach well beyond Europe and Russia themselves. Nayara’s later recovery, helped along by rupee payments and shadow fleet tankers, also exposed the limits of EU-only sanctions when other major economies, including the United States, don’t impose matching restrictions.
Conclusion
With technical negotiations continuing and a summer pause approaching, the EU is expected to revisit its approach to Greece’s shipping concerns before finalizing the next sanctions package. Whether Brussels grants Athens a carve-out on LNG transport, similar to earlier concessions on oil tanker services, will likely shape how effective the bloc’s broader sanctions strategy remains against Russia’s energy revenues going forward.
For now, Greece continues to describe itself as a consistent supporter of sanctions against Russia, while insisting that any new measures must be, in its own officials’ words, carefully calibrated to avoid self-inflicted economic damage.
Frequently Asked Questions
Does Greece buy oil from Russia?
Greece’s direct crude oil imports from Russia have fallen sharply since the war in Ukraine began, with the country now sourcing most of its crude from Kazakhstan, Azerbaijan, Iraq, Turkey, and the United Arab Emirates instead. However, Greece still imported roughly $1.7 billion worth of Russian mineral fuels, oils, and distillation products in 2024, showing the trade relationship hasn’t disappeared entirely even as headline crude purchases have declined. The more significant Russian oil connection today comes through shipping rather than direct imports, since Greek-owned tankers continue to carry a large share of global Russian crude and fuel oil exports to buyers in Asia and elsewhere.
Which countries has Russia sanctioned?
Russia has imposed retaliatory sanctions and counter-measures against a wide range of countries that have sanctioned Moscow over the war in Ukraine, including all EU member states, the United States, United Kingdom, Canada, Australia, Japan, and South Korea, among others. These countermeasures have included asset freezes, entry bans on officials, and restrictions on certain exports to those nations. Russia has also criticized secondary sanctions targeting non-Western companies with Russian ownership links, such as India’s Nayara Energy, arguing these measures unfairly extend Western sanctions policy to countries that haven’t directly sanctioned Russia themselves.
Is Greece friendly with Russia?
Greece’s relationship with Russia is complex and shaped by competing pressures rather than being simply friendly or hostile. As an EU and NATO member, Greece has formally supported successive rounds of sanctions against Russia and has provided assistance toward Ukraine’s reconstruction, including infrastructure projects and a recent bilateral memorandum of cooperation. At the same time, Greece’s shipping industry has profited significantly from transporting Russian oil under legal price-cap arrangements, and the country has repeatedly pushed back against sanctions provisions it views as disproportionately damaging to its own commercial interests, creating a relationship best described as cautious and transactional rather than either close alliance or open hostility.
