Greece extends drills hampering transfer of Russian oil cargoes

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Greece’s navy extended for a sixth time a series of naval drills, prolonging them by another four months as the country tries to deter Russian oil transfers off its coastline.

The maneuvers, which had been due to end Nov. 15, will now continue until mid-March — more than ten months after they first started — according to a notice on the Hellenic Navy Hydrographic Service’s website.

The country’s Laconian Gulf at one point became a hotspot for ship-to-ship transfers between aging tankers carrying Russian oil. As a result, Athens announced in May that it would be carrying out naval drills in the region, prohibiting the entry of commercial vessels.

The government has previously said the drills were aimed at stopping transfers of cargo identified by the world’s shipping watchdog as a risk to maritime safety.

As a result, trans-shipments of Russian oil have moved to a host of new locations, including others in the Mediterranean Sea, Red Sea and off the coast of West Africa.

Source: Bloomberg