Lakonikos Bay is the Greece of postcards. A small paradise of recently disturbed tranquility. When he goes to sea, Georges Drakoulogonas sees imposing ships that he was not used to seeing in these waters. Supertankers. “For six months, there are really a lot of boats, indicates the sailor. The tankers arrive. And there are oil exchanges from ship to ship. Before, all this happened at the port of Rotterdam, for example, but when the embargo was put in place because of the war in Ukraine, they came here.” According to the sailor and as shown by the photos we have obtained, transfers of thousands of barrels of oil, hull-to-hull tankers, take place daily in the vicinity. That day, we witness one of these exchanges. A few hundred meters from our boat, two tankers are sailing side by side. In the foreground, the Ottoman Integrity, a Turkish ship, capable of carrying more than a million barrels of crude oil in its holds. Thanks to maritime data, we traced its wake. Before reaching Greece, the tanker passed through the Bosphorus Strait on March 30. Nine days earlier, on the 21st, he left Port Taman. A major Russian oil terminal located on the Black Sea.
16.1 million barrels transferred between tankers in two months
Since the embargo, the bay of Lakonikos and its calm waters have become a privileged place of exchange for Russian oil. According to data from the financial news agency Bloomberg, 16.1 million Russian barrels have passed through the Greek Gulf in the past two months. Total estimated value: one billion euros. Contacted, the Greek Navy Ministry says it cannot act. “Cargo transfers between tankers are authorized in international waters, that is to say at a distance greater than six nautical miles from the coast, specify the Greek authorities. The movements of the vessels involved are under surveillance“A position that some residents struggle to understand. ” I think it’s only a matter of time before there’s a catastropheworries Thalis Ladadakos, a farmer and environmental activist in the region. Me, what I don’t understand is how the law can allow you to do what you want in international waters. That’s what’s going on there.” A stopover point, on the open sea, that is what Lakonikos Bay is today, the first stage of a new route that would make it possible to circumvent the European embargo. After transhipments off Greece, some of the ships dock in China, but especially in India. In one year, New Delhi has multiplied by 22 its purchases of Russian oil. In India, Moscow crude is refined and bought a virginity. A broker specializing in maritime transport says: “When refined in India, you can no longer prove that the oil is Russian. How do you want to prove it? The product becomes Indian and can be delivered anywhere.“Some of this oil would then come back to Europe. According to the Indian Ministry of Economy, refined oil exports to our continent have increased by 20% since the beginning of the war.
Greek shipowners are sea van drivers who transport anything, anywhere, for anyone
But then, who owns the ships that help Russia circumvent Western sanctions? On the radar maps, appear the tankers and their flags: Panama, Liberia but also Greece. Recently, Ukraine pinned 5 Greek companies that transport Russian oil. In Athens, many shipowners did not respond to our requests. Only Nicos Vernicos, shipowner and President Emeritus of the Athens International Chamber of Commerce, agreed to meet with us. He assumes these transfers of Russian oil to India and China. “It’s a good deal because, at the moment, transport prices are increasing. Greek shipowners are sea van drivers who transport anything, anywhere, for anyone”. Contacted, the European Commission assures that the embargo in place is bearing fruit but it indicates that it cannot intervene when Russian oil is refined in a third country before returning to Europe.
Among our sources (non-exhaustive list):
Higher Institute of Maritime Economics
Consulting firm Vesselsvalues
Greek Navy Ministry
Bloomberg
“Assessing the impact of international sanctions on Russian oil exports” (February 2023)