Baulking at shipping sanctions, Greece balances Ukraine aid, fear of Russia
Summary
Greece is facing challenges balancing support for Ukraine with protecting its own economy, especially its shipping and tourism industries. The European Union is trying to update sanctions on Russia, but Greece objects because the new rules would harm its large shipping sector. Greece has provided military and financial aid to Ukraine, while also worrying about potential threats from Russia.Key Facts
- The EU is revising a 21st package of sanctions against Russia, including limiting EU shipping of Russian liquefied natural gas (LNG) to third countries.
- Greece owns about 60% of the EU's shipping fleet and says the new sanctions would hurt its shipping industry a lot.
- Greece’s shipping and tourism industries together make up over 25% of its economy.
- A Ukrainian armed drone carrying explosives was found near a Greek island, raising concerns about Greece becoming a conflict zone.
- Ukraine apologized for the drone incident, and Greece accepted their responsibility to prevent future issues.
- Greece is helping Ukraine rebuild infrastructure damaged in the war by funding projects and signing agreements.
- The Greek port of Alexandroupolis is a key hub for US weapons and LNG shipments to Ukraine.
- Greece has provided around €170 million in direct military aid, €1.14 billion via the EU, and €9 million in humanitarian aid to Ukraine.
- Greece is cautious of potential Russian hybrid warfare and is working to improve its cybersecurity and defense systems.
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