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OIL AND GAS
Greek shipowners, EU's top fleet, slam EU climate plan
by AFP Staff Writers
Athens (AFP) June 10, 2022

Greek shipowners, the sector's leaders in Europe, criticised the EU's greenhouse gas emissions plan on Friday as a threat to the competitiveness of the bloc's fleet and called for global rules instead.

The EU's "Fit for 55" package aims to reduce net greenhouse gas emissions by at least 55 percent by 2030.

The head of the Union of Greek Shipowners, Melina Travlos, said the proposals would "strike at the competitiveness of European shipping" by increasing operating costs.

"We insist solutions must be international and under the auspices of the International Maritime Organization," Travlos told reporters on the closing day of the Posidonia exhibition, Greece's premier shipping fair.

According to UGS figures, Greek shipowners control almost 21 percent of the world's tonnage and 59 percent of the EU fleet.

"We should be careful on how we handle European shipping," Travlos said.

"The (shipbuilding) industry in Europe, which used to be very strong, has left," she said. "It left because Europe essentially chased it out... at this rate, shipping will also leave for the East."

The EU's climate plan was dealt a setback this week when the European Parliament voted against a key part of the legislation, its carbon trading system.

Travlos on Friday also defended Greek shipowners who continue to carry Russian crude oil, amid international outrage over Moscow's invasion of Ukraine in February.

"Of course we all condemn any violent acts, such as what is happening now from Russia towards Ukraine. But we cannot comment on any legal commercial activity," she said.

"Greek shipping is not doing something illegal. It has broken no embargo. Whenever sanctions are imposed, we are the first to respect them," the UGS president said.

Greek Prime Minister Kyriakos Mitsotakis last month said shipowners "may talk to (their) conscience" about transporting Russian oil and other goods, though he admitted there was no ban on the practise.


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OIL AND GAS
Iraq approves $17 bn to pay Iran gas debt and buy grain
Baghdad (AFP) June 8, 2022
Iraq passed Wednesday an emergency finance bill to pay debts to Iran to ensure gas supplies and forestall worsening power cuts, as well as to buy grain for "food security". Parliament, which has still not adopted its budget for 2022, approved the law relating to "food security and development" totalling 25 trillion Iraqi dinars, or just over $17 billion. Of that, $2.6 billion will be allocated to settling Iraq's gas and electricity debts, as well as for buying further energy supplies from abroad ... read more

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