Posted on December 13, 2022

Russian exports of coal have increased substantially, after the EU softened sanctions for European shipping companies.

A fifth package was of Russian sanctions was imposed in April targeted Russia’s energy business. It banned European companies from seaborne shipments of coal and went into effect on August 10.

Leading EU shipping companies, and particularly Greek shipping, have resisted the ban on shipping Russian goods.

Since the war started not only has Greek shipping failed to reduce its work with Russia, but its market share in transporting Russian goods by sea has risen from 35% to 55%.

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