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Malta Emerges as Key Location for Russian Oil Transfers
August 09 2024 13:36 by PCLMedia
The Ministry for Transport has neither confirmed nor denied reports suggesting that ships carrying Russian oil have been engaging in ship-to-ship (STS) transfers near Maltese waters, possibly to circumvent international sanctions.
These allegations were first highlighted by maritime news outlet Splash 24/7, which indicated that Malta has become a preferred destination for Russian oil vessels following Greece's move to restrict such operations in its waters.
According to data from Kpler, between May 1 and August 1, a total of 122 STS transfers were recorded in various regions. The Malta lightering area accounted for the majority, with 44% of these transfers, followed by Augusta in Sicily with 11 transfers (9%) and Lome in Togo with nine transfers (7%).
This trend emerges amid global efforts to sanction Russian oil exports in response to the country’s invasion of Ukraine. Countries like Russia and Venezuela have been accused of using vessels not directly linked to them to move oil, thereby evading these sanctions.
Although these sanctions aim to significantly impact Russia’s oil-dependent economy, they have not yet affected EU countries like Croatia and Bulgaria, which still rely on Russian crude. However, projections suggest that Russia's oil production may drop by 11% in 2023 due to these sanctions.
Malta's involvement in such activities is not new. Last year, Windward AI, a maritime sector artificial intelligence company, reported a 220% increase in oil being transported to Malta, indicating that Russia may be using the island as a transfer point for oil bound for Africa.
Malta has now become the leading European destination for STS transfers of Russian oil, following Greece’s decision to curtail such activities in the Laconian Gulf. The Greek navy, citing military exercises, has restricted an area in international waters southeast of the Peloponnese islands since May 1. This area, previously frequented by Russian-linked tankers, is now off-limits, leading to a significant shift of tanker activity from Greek waters to other locations across the Mediterranean and beyond.
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