Russia-Ukraine war: Greece to release Russian tanker impounded due to EU sanctions

Greece, on Thursday, announced that it will release a Russian oil tanker that it impounded earlier this week. "The coast guard has been ordered by the anti-money laundering authority to release the vessel," a government official told Maritime Executive, stopping short of revealing details. The Russian-flagged vessel was seized by Greek coast guards as it violated EU sanctions which forbid Russian vessels in its ports.

While the Pegas ship was deemed to belong to Vladimir Putin's government-backed bank Promsvyazbank, it was later revealed that the carrier was sold in April last year to somebody else. Notably, the ship carried Iranian oil, which has been banned by both the US and Europe. According to reports, the tanker had been sailing through the Mediterranean region since September 2021 but had failed to fetch any substantial customers.  

EU embargoes on Russia

The 27-member European Union has also imposed export restrictions on a range of products to Russia, worth a total of 10 billion euros (over Rs 800 crores) per year, including jet fuel, quantum computers, advanced semiconductors, high-end electronics, software, sensitive machinery, and transportation equipment, the Daily Sabah reported. 

Meanwhile, last week, the Greek government declared that no more military equipment would be sent to Ukraine. Addressing a press briefing on April 15, Greek government spokesperson Ioannis Oikonomou stated that Greece would stop sending weapons to the war-torn nation. The official, however, did not say whether Greece had previously sent Stinger man-portable air defence weapons to Ukraine.

EU won't be able to replace Russian oil & gas in the next 5-10 years: Russia 

Meanwhile, Russian Deputy Prime Minister Alexander Novak claimed that the European Union will not be able to fully replace Russian oil and gas in the next five to 10 years. He also stated that this opinion is echoed by the significant players in the global energy market.

The Russian Deputy Prime Minister stressed that foreign energy corporations normally do not stop cooperating with Russia voluntarily, and Moscow believes that rationality will prevail in the long run. His statement comes as several countries across the world continue to impose sanctions on Russia for its invasion of Ukraine. 

(Image: AP)