Greek firms profit billions from Russian oil, defying G7 price caps

Greek tanker companies are allegedly amassing billions by transporting Russian oil, effectively circumventing international sanctions. Major players in the industry, including Dynacom Tankers, Stealth Maritime, and the Onassis Group, are reportedly seeing significant revenue increases from carrying Russian fuel.

According to reports citing the Financial Times, these Greek firms are continuing to transport Russian energy supplies without adhering to the price caps established by the Group of Seven (G7) nations. This practice allows them to profit from the trade while potentially undermining the effectiveness of the sanctions aimed at pressuring Russia.

The substantial earnings suggest a robust shadow market for Russian oil, with Greek companies playing a pivotal role. The continued operation of these tankers, seemingly disregarding international price limits, highlights the complexities and potential loopholes in the global sanctions regime against Russia.