Greece Decries Shadow Fleet While Selling Ships Into It

11:35 21/5/2025 - Πηγή: Dikaiologitika

Although Mitsotakis insists Greece is committed to international maritime law and sanctions compliance, Greek shipping firms were by far the most active sellers in this trend.

Greek Prime Minister Kyriakos Mitsotakis’s recent statement at the UN Security Council has raised eyebrows far beyond the borders of Greece. In a high-profile address, Mitsotakis outlined six priorities for strengthening maritime security,

declaring that “Greece shows zero tolerance for phenomena such as shadow fleets.” But his firm rhetoric has been met with skepticism, as mounting evidence links dozens of former Greek-owned oil tankers to a clandestine global network that helps Russia skirt Western sanctions.

Speaking to fellow world leaders, Mitsotakis warned of increasingly “asymmetric threats” to global maritime safety — from smuggling and terrorism to piracy and hybrid attacks. He underlined the importance of securing sea lanes, highlighting that more than 80% of global trade moves by sea. He also linked maritime stability to political and economic resilience, sustainable development, and global prosperity. Among his top concerns, Mitsotakis pointedly referenced “fraudulent ship registration, non-seaworthy vessels, sanctions violations, and shadow fleets,” asserting that Greece “tolerates none of these practices.”

But a transnational investigation has exposed a troubling disconnect between words and reality. The investigation, titled Shadow Fleet Secrets, coordinated by the Dutch outlet Follow the Money and involving media partners across nine countries, reveals that between 2022 and 2024, at least 127 tankers previously owned by Greek shipping companies ended up transporting Russian oil in violation of EU and G7 sanctions. These vessels now form part of a vast and opaque "shadow fleet" that allows Russia to continue exporting its oil despite Western efforts to limit the Kremlin’s wartime revenues.

According to the Kyiv School of Economics, which helped compile the investigative data, these tankers were often sold legally, sometimes before tighter EU rules took effect. Yet the patterns are clear: old vessels, often uninsured or flagged in lenient jurisdictions, were acquired by newly formed companies in places like the UAE or India. These firms have played a growing role in supporting Russia’s oil exports, operating in a legal grey zone that offers plausible deniability to former owners.

Although Mitsotakis insists Greece is committed to international maritime law and sanctions compliance, Greek shipping firms were by far the most active sellers in this trend. Out of an estimated $6.3 billion in global shadow fleet-linked tanker sales, Greek firms accounted for more than half the total revenue — over $3.7 billion.

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