Request to EU Commission for Sanctions Against Okeanis Eco and Kyklades Maritime of the Alafouzos Group Over Links to Russia’s Shadow Fleet

The MEP of Renew Europe, Petras Auštrevičius, submitted a question to the European Commission, requesting the imposition of sanctions against Greek shipping companies. According to what the MEP says in his question, which was posted on the website of the European Parliament, shipping companies owned by the Alafouzos family, with tankers linked to Russia’s shadow fleet, are transporting Russian oil.

In his question, he mentions that Okeanis Eco Tankers, listed on the New York Stock Exchange, and Kyklades Maritime Corporation, are knowingly fueling Russia’s war machine and transporting Russian oil.

He also mentions that the shipping companies of Economou and Tsakos have sold their tankers to the Russian shadow fleet. He further notes that the EU has imposed sanctions on Russia’s shadow fleet and asks what will happen with persons involved in the transportation of Russian oil.

Auštrevičius’s Question
In his question, the Lithuanian MEP states: “In recent months, concerns have emerged about the role of EU-based shipping companies – primarily Greek – in the continued sale of vessels to actors linked to Russia’s shadow fleet, which is transporting Russian oil. Reports indicate that Okeanis Eco Tankers, listed on the New York Stock Exchange, and Kyklades Maritime Corporation, both owned by the Alafouzos family, have continued shipping Russian oil.”

He also notes that: “Open-source investigations reveal that a small number of individuals sold billions of euro worth of tankers to opaque buyers and these vessels are now operating in the shadow fleet. In 2024, 14 former Greek-owned ships, worth USD 480 million, ended up in this fleet, with TMS Tankers of Georges Economou and Tsakos Energy Navigation among the sellers.”

He points out that in 2023, “some Greek shipping companies, including TMS Tankers, were listed by Ukraine as ‘Sponsors of War’.”

And he concludes: “While the EU’s 15th-18th sanctions packages have expanded vessel blacklists, no individual EU shipowners have faced personal sanctions.

1. Does the Commission intend to propose sanctions against EU individuals and companies that knowingly enable the shadow fleet?
2. How will sanctions enforcement target EU actors circumventing the oil price cap?