Maltese and Cypriot maritime registers see oil tankers leave as a result of sanctions on Russia

A large number of tankers which previously sailed under European Union flags, such as Cyprus’ and Malta’s, are leaving those registers as a result of the sanctions on Russian oil transportation, eKathimerini reports.

Sources cited by the Greek website say that since early October the number of ships on the Cypriot registry has decreased 21%, while the Maltese registry has lost around 67 vessels.

Based on official data so far, the exit of tankers from the Greek registry is very limited and may not even be related to the sanctions on Russia. According to the Hellenic Statistical Authority (ELSTAT), the Greek registry numbered 1,833 ships in January this year, of which 449 were tankers. At end-August, the number of tankers flying the Greek flag had decreased to 439, with a corresponding decrease in their total transport capacity.

This exit, according to shipbroking sources, concerns the migration of ships to countries that do not apply the US and EU sanctions against Russia. The three countries said to be buying tankers leaving the European Union are China, Turkey and India.

eKathimerini.com