Greek shipping giant profits from Russian Arctic gas trade

Analysis from the German campaign group Urgewald reveals that 92 percent of the 162 cargoes leaving the Yamal facility this year were bound for Europe. The port at Sabetta requires specialized Arc7-class tankers to navigate ice two meters thick, a niche market dominated by three firms. Among them, the Greek company Dynagas stands out as the only EU-based operator, managing five of the 14 tankers serving the route.

Controversy surrounding these shipments intensified in July when Greece blocked an EU sanctions package to secure an exemption for its shipping sector. The resulting compromise allows EU operators to continue transporting Russian LNG to non-EU buyers under pre-2022 contracts until 2027. Alexander Kirk, a campaigner at Urgewald, criticized the arrangement, noting that European governments have had years to diversify their energy supplies rather than funneling billions into Russian infrastructure. Meanwhile, three of the company’s tankers—Clean Ocean, Clean Vision, and Clean Planet—remain barred from British ports due to their involvement in the trade.