Wall Street’s Outlier: Alafouzos Family, Wall Street Listed Okeanis Eco Tankers and the Continuous ‘Sanctioned’ Russian Oil Tranport

Ships owned by the Alafouzos family and the NYSE-listed company Okeanis Eco Tankers Corp. (NYSE: ECO) are at the forefront of transporting Russian oil, raising critical concerns about compliance with U.S. and EU sanctions. Evidence of ship-to-ship transfers involving Venezuelan oil and the recent sale of a tanker that ultimately serviced Russian ports further intensifies these concerns.

Shipping Activities and Compliance Risks

The Alafouzos family, through its New York Stock Exchange-listed company Okeanis Eco Tankers and the privately held Kyklades Maritime, has been systematically involved in transporting Russian crude oil. Investigations using maritime tracking databases and verified shipping industry sources highlight ship-to-ship transfers involving tankers previously linked to Venezuelan oil shipments—operations widely recognized as sanction-evading practices.

In stark contrast, other international tanker companies listed on U.S. stock exchanges—such as Frontline PLC (NYSE: FRO), Double Hull Tankers (NYSE: DHT), and International Seaways Inc. (NYSE: INSW)—have abstained from Russia-related trades to avoid exposing their investors to sanctions-related risks. This leaves Okeanis Eco Tankers as the sole U.S.-listed tanker company engaged in such trades, many of which appear to have been conducted with questionable compliance regarding the price cap imposed by the current EU and U.S. sanctions regime.