Malta has joined Greece and Cyprus in opposing the proposed 20th sanctions package on Russia by the EU. Malta is opposing the sanctions package in the interest of its own maritime industry. The latest proposed sanctions aim to ban all services to oil-tankers selling Russian oil and this would ensure a severe blow to Russia’s war economy.
Russian oil sales have decreased substantially along with revenues of Russian energy companies due to Western sanctions, effectively crippling Russia’s abilities to wage its war in Ukraine.
Malta’s position contrast with its work to join international efforts to monitor and enforce sanctions on the Russian shadow-fleet. Malta’s largest oil bunkerer is also under investigation for trafficking Russian oil. Malta’s position has so far been pro-Ukraine but it seems to be refusing to make concessions which may disrupt some of its trade.
Greece has consistently sought to seek its own national interests with regard to its shipping industry and Russia’s war in Ukraine. Greek shippers remain major carriers of Russian oil and many of them also use Malta for their operations.
Malta also faces security risks due to the illegal trade in Hurd’s Bank.
You can also find a list of Maltese-flagged oil-tankers trading Russian oil here.
Newsroom
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