Shipowners are reducing the transportation of russian petroleum products

Greek shipowners, who previously accounted for a significant share of russian petroleum product transportation, have begun pulling back from this market due to new EU sanctions restrictions.

In the Baltic region, this has already led to a sharp reduction in available fleet capacity: the number of tankers for transporting light petroleum products has fallen to its lowest level since the beginning of the year, causing freight rates to rise to $140-183 per tonne. At the same time, export volumes have dropped significantly – by nearly 72% compared to the same period in 2025.

A difficult situation is also observed in the Black Sea, particularly near the port of Tuapse, where logistics have been complicated by transportation restrictions and a state of emergency following attacks on the oil refinery. As a result, vessels are forced to alter their routes, lengthening voyages and increasing costs.

Experts note that the reduction in Greek carrier participation may further compound problems for russian oil exports, while actual supply volumes, according to analysts' estimates, may be lower than what russia is reporting.

Source: Ekonomichna Pravda