Sanctions against Russia

Unregulated tankers sidestepping Western sanctions are posing a bigger risk to the Mediterranean region and Greece is undertaking more protective measures to safeguard its coast, the country's shipping minister told Reuters on Tuesday.

The Greek navy on Wednesday extended an advisory effectively banning ship traffic off the coast of the southeastern Peloponnese that two sources said was aimed at deterring ship-to-ship transfers of Russian oil off Greece.

The government believes it has found a way to disrupt the sanctions-busting operations taking place off the southern coast of the Greek mainland that allow Russian oil exports.

The Hellenic Navy has issued a navigational guidance closing off the Laconian Gulf, off the southeastern coast of the Peloponnese, for naval exercises from May 1-9. 

A recent report by a group of Western insurers has shed light on Russia's ability to circumvent Western oil sanctions, revealing that measures aimed at capping Russian oil prices have proven ineffective and have inadvertently fueled a surge in gray zone activities.

The United States House of Representatives has approved a comprehensive legislative package worth 95 billion USD, earmarking funds for Ukraine, Israel, and the Indo-Pacific region. Despite facing opposition from a faction within the Republican Party, the bill secured passage with significant bipartisan support, with 316 votes in favor and 94 against.

Russian oil and products have become trapped at sea on four tankers after the United States hit the vessels with fresh Iran-related sanctions, LSEG data showed on Friday.

In a significant move reflecting shifting dynamics in global oil trade, Turkey's Dortyol terminal, a key Mediterranean oil hub, has announced its decision to cease accepting Russian oil imports. This decision comes in response to mounting pressure from US sanctions and signals a notable departure from Turkey's recent reliance on Russian crude.

The Greek trade deficit fell by 11.3% in December and by 20% in 2023, the Hellenic Statistical Authority (ELSTAT) said on Wednesday.

"You are our enemy, we are fighting against our own people, you have taken our peaceful life, you have destroyed our state," are some of the words that soldiers and officers are addressing the President of Ukraine, Sputnik reported.

Vui said that the one and only topic in Davos is Ukraine and everything that is happening there, and everything else is on the margins. As he says, today he talked to many world and economic leaders.