Ship-to-ship loadings of Russian diesel pick up in northern Aegean

Traders are moving Russian diesel cargoes to a new ship-to-ship (STS) loadings site in the northern Aegean Sea, as Western sanctions hit vessels carrying fuel loaded in Russian ports, LSEG and market sources data show.

Since a full European Union embargo on importing Russian oil products took effect in February 2023, traders have diverted diesel exports from Russian ports to Brazil, Turkey, countries in Africa, Asia and STS loadings.

STS loadings make it harder for Western countries to trace trade in Russian oil products.

International waters off Greece's Laconian Gulf became one of the most popular locations for STS loading of Russian oil products in Europe due to their proximity both to Russian ports and the Suez Canal, which offers access to Asian markets.

In April, Greece issued two notices for military exercises in the Laconian Gulf area, urging...