Russia's shadowy energy trade is raising fears of a devastating oil spill | CNN Business

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Ship-to-ship transfers of Russian crude have mushroomed in recent months. The shadowy energy trade is raising fears of a devastating oil spill

The waters of the Bay of Lakonikos, on the south-eastern side of Greece’s Peloponnese peninsula, are a bright turquoise color. Its shores are an important nesting site for sea turtles. Yet it’s not just a place of natural beauty. The area has become a key hub for tankers carrying Russian energy exports.

It’s also harder to tell whether the vessels with murky ownership comply with the strict rules governing oil transfers at sea, according to Kenney. “There is a significant level of concern that the regulatory regime that ensures safe and secure shipping on clean oceans is being undermined,” he said.

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