Greece and Malta oppose EU ban on Russian oil shipping

Tuesday 10 February 2026 - 12:50

By: Dakir Madiha

Greece and Malta oppose EU ban on Russian oil shipping

Greece and Malta have pushed back against a proposed European Union ban on maritime services for Russian oil shipments, citing concerns about the impact on Europe’s shipping sector and energy prices. The objections were raised during a meeting of EU ambassadors held days after the European Commission unveiled its 20th package of sanctions against Russia.

According to people familiar with the discussions cited by Bloomberg, the two southern European states voiced reservations as the latest sanctions proposal was presented. They asked for further clarification on measures that would impose penalties on foreign ports handling Russian oil and introduce tighter oversight of ship sellers in an effort to curb Russia’s so-called shadow fleet.

The sanctions package was announced on Friday by European Commission President Ursula von der Leyen, who called for a complete ban on maritime services for Russian crude oil to replace the current G7 price cap mechanism. She said the move would further reduce Russia’s energy revenues and make it harder for Moscow to find buyers, adding that the global nature of shipping required coordination with like-minded partners following a G7 decision.

The proposal would add 43 vessels to the EU’s sanctions list targeting the shadow fleet, bringing the total number of sanctioned ships to 640 subject to port access bans and service restrictions. It also envisages sanctions on ports in Georgia and Indonesia that handle Russian oil, marking the first time the EU would target ports in third countries.

Beyond energy measures, the package includes plans to blacklist 20 additional Russian regional banks, tighten controls on cryptocurrencies and trading platforms to close loopholes, and introduce new import bans on metals, chemicals, and critical minerals worth more than 570 million euros.

Russia currently exports more than a third of its oil on Western tankers, mainly to India and China, with Greek, Cypriot, and Maltese operators playing a significant role in the trade. EU-owned tankers carried 35 percent of Russian oil in January, according to data from Windward. Greece and Malta fear the proposed ban could damage their maritime industries, among the largest in the EU, at a time when attacks on tankers in areas such as the Red Sea have already driven up insurance premiums and operating costs.

The sanctions package requires unanimous approval from all 27 EU member states before it can take effect. The Commission aims to finalize the measures before February 24, marking four years since Russia’s full-scale invasion of Ukraine, though negotiations are expected to continue as maritime nations seek assurances.