China Denies Sale of Piraeus Port Amid U.S. Pressure

The Chinese embassy in Greece has firmly stated that the controlling stake held by China's state-run COSCO in the Piraeus port is not for sale. This declaration comes in response to remarks made by Kimberly Ann Guilfoyle, the newly appointed U.S. ambassador to Greece, who suggested that the U.S. might influence Greece to reconsider its agreements with China. COSCO, which finalized its acquisition of a 67% stake in Piraeus in 2016 during Greece's debt crisis, has positioned the port as a critical hub on the trade route connecting Europe, Africa, and Asia.

Reuters

The U.S. administration has been actively seeking to diminish China's influence over global ports, with Greece being highlighted as a potential European energy hub. The U.S. aims to increase its energy exports to Europe, particularly in light of the ongoing geopolitical tensions with Russia. In this context, the U.S. has expressed interest in acquiring stakes in smaller ports in Greece to bolster its presence in the region.

Reuters

In a statement posted on X, the Chinese embassy criticized Guilfoyle's comments as "groundless attacks," asserting that the relationship between Greece and China should not be swayed by external pressures. The embassy emphasized that the U.S. is attempting to incite Greece to breach its contractual obligations regarding the port, labeling this approach as indicative of a "Cold War mentality." Furthermore, the embassy insisted that the port "must in no way fall victim to the geopolitical confrontation."

Reuters

Critics of the U.S. stance argue that the pressure to alter Greece's agreements with China could undermine the country's sovereignty and economic stability. They contend that such actions may lead to increased tensions between Greece and China, potentially harming bilateral relations that have been cultivated since COSCO's investment in Piraeus.

Reuters

• “The United States, with selfish intentions, is inciting Greece to terminate its contractual obligations and sell the port,” — Chinese Embassy Spokesperson

Reuters

• “In a rare statement, the Chinese embassy denounced any question of a sale in a post on X late on Wednesday saying Guilfoyle's remarks were "groundless attacks" and the Greek-Chinese ties cannot be influenced by third parties.” — Chinese Embassy Spokesperson

Reuters

• “must in no way fall victim to the geopolitical confrontation” — Chinese Embassy Spokesperson

Reuters

As the U.S. continues to seek a stronger foothold in Greece, further developments regarding the Piraeus port and potential U.S. investments in smaller ports are anticipated. The ongoing dialogue between the U.S. and Greece will likely shape the future of the region's geopolitical landscape, particularly in relation to China's influence.

Reuters