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This month’s top news from naftikachronika.gr



        ON THE                                                                  Edited by:










                                                                                Giannis Theodoropoulos, Manos Charitos








          IS EUROPE’S ENERGY CRISIS        by Reuters, the foreign ministers could
          HERE TO STAY?                    not agree immediately on a blanket ban
          The Russian invasion has changed  of travel visas for Russian nationals.
          the balance in the world markets and   Borrell also pointed out that there has
          shaken the integrity of Europe. Given  been a significant increase in Russian
          the diminished gas flows from Russia,  border crossings into the EU since mid-
          Europe could face supply shortages   July, a development he described as a
          for many winters until it finds a solu-  “security risk for these neighbouring
          tion, according to Shell CEO Ben van  states”. The Kremlin’s response was
          Beurden.                         immediate, with Dmitry Peskov calling
          The main reasons for Europe’s inability   the EU’s decision “ridiculous,” adding
          to make up for Russian natural gas sup-  that Russia was considering ways to
          plies are its inadequate LNG infrastruc-  respond.
          ture and terminals and its competition   The political decision to suspend the
          with Asian markets for LNG imports.  visa agreement with Russia will have
          According to the Russian state-run   to be endorsed by the EU’s competent
          news website TASS, Dmitry Medve-  legislative bodies, so it is not yet known
          dev, former prime minister and current   when it will come into effect. Undoubt-
          vice-chairman of Russia’s Security Coun-  edly, the ban will severely impact Rus-
          cil, referring to Europe’s energy crisis,   sian seafarers who wish to embark/dis-
          pointed out that gas prices in Europe   embark at EU ports and airports as well
          could reach 5,000 euros per 1,000 cubic   as companies as they will be unable to
          metres by the end of 2022.       make the related crew changes. Thus,
                                           travelling abroad to embark on ships
          THE EU SUSPENDS TRAVEL VISA      will become a challenge if one con-
          AGREEMENT WITH RUSSIA: THE       siders that many Ukrainian seafarers
          IMPACT ON CREW CHANGES           are already stranded on vessels in the
          EU  foreign  ministers  agreed  on   Black Sea. It is reminded that Russian
          Wednesday, 31 August, to suspend the   and Ukrainian seafarers comprise 15% of
          visa facilitation agreement with Russia,   the global shipping workforce.
          making access to the EU more difficult
          and costly for Russian citizens.  THE "DROUGHT" IN LARGE
          “The number of new visas issued by EU  TANKER ORDERS IS OVER
          member states will be reduced. It will   The VLCC order “drought” appears to
          be more difficult and take longer,” noted   be ending as favourable conditions have
          EU foreign policy chief Josep Borrell   been prevailing in the market recently.
          after the foreign ministers’ meeting,  According to data in a recent Xclusiv
          referring to the decision.       Shipbrokers report, no orders for VLCCs
          According to diplomatic sources cited   had been registered in the last eighteen


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