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Greek Shipowners Reenter Russia's Urals Oil Market as Prices Drop

4/29/2025

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Summary

Story summary

Greek shipowners are returning to Russia's Urals oil market as prices dip below the $60 cap.
They can offer transport and insurance services while complying with sanctions.
In April, 15 out of 25 tankers transporting Urals oil were operated by Greek companies.
Freight rates for Russian oil are stable or declining due to a rise in vessel availability.

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Story summary

Greek shipowners are returning to Russia's Urals oil market as prices dip below the $60 cap.
They can offer transport and insurance services while complying with sanctions.
In April, 15 out of 25 tankers transporting Urals oil were operated by Greek companies.
Freight rates for Russian oil are stable or declining due to a rise in vessel availability.