Greek Tanker Owners Reenter the Russian Oil Market Despite Sanctions

Greek Tankers Resume Russian Oil Trade: After a decline due to sanctions, Greek-owned tankers are once again transporting Russian crude, particularly to India and Turkey.
Compliance with G7 Price Cap: The resurgence is driven by Russian Urals crude trading below the $60 price cap, allowing legal participation by Western tankers.
Greek Tankers’ Market Share Rebounds: In February 2024, Greek-linked vessels accounted for 33% of Russian crude exports, up from 30.1% in January.

American sanctions...