Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Headlines > Greek tanker fleet steps up ship inspections near Russian ports after mysterious blasts
    Headlines

    Greek tanker fleet steps up ship inspections near Russian ports after mysterious blasts

    Published by Global Banking & Finance Review®

    Posted on July 9, 2025

    4 min read

    Last updated: January 23, 2026

    Image illustrating K+S's Q2 financial report, showing a decline in revenue and sales volume due to logistical challenges. Relevant to banking and finance news.
    K+S revenue report highlights Q2 revenue miss and sales volume drop - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Tags:oil and gascybersecurityrisk managementInternational trade

    Quick Summary

    Greek tankers are boosting inspections near Russian ports after mysterious blasts damaged vessels. Measures include underwater checks amid security concerns.

    Greek Tanker Operators Enhance Inspections Following Mysterious Explosions

    By Jonathan Saul and Renee Maltezou

    LONDON/ATHENS (Reuters) -Greek shipping companies calling at Russian ports are boosting their vessels' defences after a series of mysterious blasts in recent months have damaged tankers linked to Moscow's oil trade according to six Greek shipping and security sources.

    The measures include underwater inspections by divers to check for foreign objects, two of the Greek sources familiar with the strategy said.

    Western countries have hit Russia with waves of sanctions over its war in Ukraine and the Group of Seven major powers has separately imposed a price cap of $60 a barrel on Moscow's oil exports, which are the country's economic lifeline.

        Much of Russia’s oil is now exported by a so-called "shadow fleet" of unregulated tankers, but shipping data shows Greek-owned ships, part of the world's largest tanker fleet, have also been carrying Russian crude. 

        Greek shipping companies say transporting Russian oil sold within the G7 price cap remains a legitimate trade. However, this year's explosions on at least six vessels that have called at Russia's Baltic Sea port of Ust-Luga and its Black Sea port of Novorossiysk have unsettled the market, people familiar with the matter said.

        Vessels waiting outside Russian anchorages and other zones would shift their positions at varying times to make their location less predictable, while crews were on alert for any movement around their ships, one of the Greek sources, who declined to be identified due to the sensitivity of the matter, said.

        Two of the other sources added that other measures such as remote underwater checks of the hulls were also being explored.

    So far, no official results of various probes into the incidents have been released, though security sources have said limpet mines, which get attached to a target by magnets, were likely behind some of the blasts.

    Three security sources advising the industry, but not directly involved in the investigations, said they were working on the possibility that Ukrainian teams were involved in some of the blasts, given Kyiv's objections to Greek ships' involvement in the transport of Russian oil.

    Ukraine has refrained from commenting on those incidents in the past and Ukraine's military intelligence agency and its security service both declined comment when contacted about this story.

    In the latest incident on July 6, the Eco Wizard LPG (liquefied petroleum gas) tanker experienced a series of blasts at Russia's Ust-Luga port.

        Moscow's transport ministry said the tanker experienced a minor leak of liquid ammonia while it was loading and an inspection of the vessel by divers was planned.   

        Its Greek-based operator Stealth Gas declined to comment, while other sources said the blast suggested an explosive device caused the damage.   

    Earlier last week, a blast damaged Greek oil tanker Vilamoura as it was sailing off the Libyan coast, which its operator TMS Tankers said was likely caused by an external explosive device, citing an initial investigation.

    Asked about an investigation launched earlier this year after tanker Seacharm was damaged in a blasts in February, the Greek authorities declined comment saying the information was classified. Italian authorities, which at the time opened a terrorism investigation into damage to another tanker, the Seajewel, have since offered no further updates on the probe.

    MEDITERRANEAN CONNECTION

    Four of the tankers that suffered blasts this year, had Greek operators with a further one based in Cyprus, according to data analysis of the companies.

    Four of the six ships were sailing towards the Mediterranean coast after calling at Russian ports, marking the first time in decades when such incidents involved non-military vessels in the central Mediterranean. 

    Vessels with Russian port calls faced "increasing exposure to sabotage by organised state-sponsored actors or proxy groups amid the Russia-Ukraine conflict", Corey Ranslem, CEO of British maritime cyber defence and risk intelligence company Dryad Global, told Reuters.

        "Despite the Mediterranean’s relative stability compared to high-risk regions like the Red Sea, vulnerabilities persist during transit or at less secure anchorages, such as off Libya, where oversight is limited," Ranslem said.

    Ellie Shafik, head of intelligence with UK based maritime risk management company Vanguard Tech, said patterns of activity and the likelihood of involvement suggested "Ukrainian state or state-aligned actors" were likely to have been involved in some of the incidents.

        "The strategy of perpetrators appears to be deliberate covert maritime sabotage of vessels using limpet mines," she said.

        "This method ensures engine-room flooding and immobilization without causing the total destruction of the vessel or crew casualties. The nature of the sabotage is indicative of professional, military-grade capabilities."

    (Reporting by Jonathan Saul and Renee Maltezou, additional reporting by Yannis Souliotis, Tom Balmforth, Emilio Parodi and Gleb Stolyarov; editing by Rachel Armstrong and Tomasz Janowski)

    Key Takeaways

    • •Greek tankers enhance inspections after blasts near Russian ports.
    • •Underwater checks and other defensive measures are being implemented.
    • •Blasts have affected tankers linked to Russia's oil trade.
    • •Security sources suggest possible Ukrainian involvement.
    • •Incidents have unsettled the oil transport market.

    Frequently Asked Questions about Greek tanker fleet steps up ship inspections near Russian ports after mysterious blasts

    1What measures are Greek shipping companies taking?

    Greek shipping companies are enhancing vessel defenses, including underwater inspections by divers and remote checks of hulls to detect foreign objects.

    2What incidents have raised concerns for Greek tankers?

    This year, at least six vessels that called at Russian ports have experienced explosions, raising alarms about potential sabotage linked to the ongoing Russia-Ukraine conflict.

    3What is the suspected cause of the tanker blasts?

    Security sources suggest that limpet mines, which attach to targets using magnets, are likely behind some of the blasts affecting the tankers.

    4How has the geopolitical situation affected oil exports?

    Western sanctions on Russia over its war in Ukraine have led to the emergence of a 'shadow fleet' of unregulated tankers, complicating the landscape of oil exports.

    5What is the significance of the G7 price cap on Russian oil?

    The G7 has imposed a price cap of $60 a barrel on Russian oil exports, which Greek shipping companies argue allows for legitimate trade as long as the oil is sold within this limit.

    More from Headlines

    Explore more articles in the Headlines category

    Image for Farmers report 'catastrophic' damage to crops as Storm Marta hits Spain and Portugal
    Farmers report 'catastrophic' damage to crops as Storm Marta hits Spain and Portugal
    Image for French justice opens Epstein-linked probe against former culture minister
    French justice opens Epstein-linked probe against former culture minister
    Image for If US attacks, Iran says it will strike US bases in the region
    If US attacks, Iran says it will strike US bases in the region
    Image for Suspected saboteurs hit Italian rail network near Bologna, police say
    Suspected saboteurs hit Italian rail network near Bologna, police say
    Image for Olympics-Protesters to rally in Milan denouncing impact of Winter Games
    Olympics-Protesters to rally in Milan denouncing impact of Winter Games
    Image for Olympics-Biathlon-Winter Games bring tourism boost to biathlon hotbed of northern Italy
    Olympics-Biathlon-Winter Games bring tourism boost to biathlon hotbed of northern Italy
    Image for US pushes Russia and Ukraine to end war by summer, Zelenskiy says
    US pushes Russia and Ukraine to end war by summer, Zelenskiy says
    Image for Russia to interrogate two suspects over attempted killing of general, report says
    Russia to interrogate two suspects over attempted killing of general, report says
    Image for Russia launches massive attack on Ukraine's energy system, Zelenskiy says
    Russia launches massive attack on Ukraine's energy system, Zelenskiy says
    Image for Ukraine backs Pope's call for Olympic truce in war with Russia
    Ukraine backs Pope's call for Olympic truce in war with Russia
    Image for Russia launched 400 drones, 40 missiles to hit Ukraine's energy sector, Zelenskiy says
    Russia launched 400 drones, 40 missiles to hit Ukraine's energy sector, Zelenskiy says
    Image for The Kyiv family, with its pets and pigs, defying Russia and the cold
    The Kyiv family, with its pets and pigs, defying Russia and the cold
    View All Headlines Posts
    Previous Headlines PostExtreme weather could cause 5% drop in euro zone GDP, bank watchdogs find
    Next Headlines PostRomania bans Moldovan mayor from border-free Schengen area, ministry says