With Piraeus under the control of the Chinese shipping giant Cosco and Thessaloniki linked to Russian-Greek business interests, the US is now seeking to gain access to Greece's strategic ports, but analysts warn that it may already be too late to displace Beijing, as reported by Euractiv.
The historic port of Piraeus, which President Xi Jinping has called "the head of the dragon" of the Mediterranean, became an emblematic project of the Belt and Road Initiative after its privatization during Greece's bailout in 2008, serving as a vehicle for China's expansion of its political and economic influence abroad.
A former minister of the conservative government under Prime Minister Antonis Samaras (2012–2015), who spoke on condition of anonymity, told Euractiv that "we found ourselves in a period where we desperately needed foreign investment and no one else was investing." He added that the Americans and Europeans "who complain today, did absolutely nothing back then."
The Chinese state-owned company COSCO initially secured a container pier concession and in 2016 bought 67% of the Piraeus Port Authority, taking majority control.
The return of Donald Trump rekindles American interest
With the re-election of Donald Trump, Washington redefined its policy in the Eastern Mediterranean after years of a relatively reduced presence under Democratic administrations, and now seems determined to counter Chinese influencein the region.
The new US Ambassador to Greece, Kimberly Guilfoyle—former fiancée of Donald Trump Jr.—openly questioned the Chinese presence, implying that Piraeus "could be up for sale." The Chinese embassy condemned these statements as a malicious attack on normal Sino-Greek commercial relations and a serious interference in Greece's internal affairs.
The Americans are also considering alternatives beyond the Chinese-controlled Piraeus, such as upgrading the Elefsina Shipyards into a multi-functional port.
Can China be expelled from Piraeus?
The former minister who spoke to Euractiv considers the reversal of the agreement with COSCO highly unlikely and argues that the best option is to limit Chinese influence. "China will now proceed based on the principle of Pacta sunt servanda—that is, that agreements must be honored," he noted.
George Tzogopoulos, a senior research fellow at ELIAMEP, stated that the COSCO investment is still evolving. He welcomed the American proposals for investments in Elefsina, but pointed out that "timetables and spatial constraints" must be taken into account.
He added that the competition between foreign powers for Greek ports could theoretically benefit the Greek economy, but he warned that Athens must avoid being trapped in the US–China rivalry. "I doubt that Greece will have any negotiating power under the new circumstances of Sino-American relations, but it should try not to be on their agenda," he said, suggesting a policy that keeps others satisfied or at least not dissatisfied.
The prospect of limiting Chinese influence
Constantine Tsimonis, a professor of Chinese politics at Panteion University, doubts that Trump can completely expel China, but he believes his main goal is the shrinkage of its influence on Greek affairs.
He also invoked a Greek constitutional provision that allows the state to nationalize critical infrastructure in times of emergency. "Where there is a will, there is a way," he said.
He added that the EU is paying increasing attention to critical infrastructure, including ports. A European Ports Strategy is expected to be presented in 2026 by the European Commission, with security as its core focus.
The "asphyxiation" scenario
Tsimonis suggested that the US could exert "multi-layered pressure" to limit COSCO's autonomy.
He said it might not be a coincidence that the government is preparing a bill that could place ports under a central Greek public port authority, thus limiting the control of operators, including COSCO.
He predicted that Athens will face increased pressure in the coming years. The strong reaction from the Chinese embassy showed "annoyance," fueling rumors of an imminent visit by Xi Jinping.
He warned, however, that China may refuse any concession and threaten legal actions, compensation claims, or even the suspension of port operations to escalate the tension. "I believe this will be one of the first clear conflicts of the new Cold War," he said, adding that Greece traditionally aligns with the US, the dominant power in the Eastern Mediterranean.
Political silence in Athens
Greek politicians have largely remained silent regarding the US–China confrontation, with only the Ministry of Foreign Affairs stating that Greece remains fully aligned with the US as a strategic partner but will respect previous agreements.
According to the former minister, no political party is likely to resist Trump's initiatives in the country. However, internally, tensions may arise ahead of the 2027 elections, especially among influential shipping circles.
The first political signals
Former Prime Minister Kostas Karamanlis—who signed the original agreement with COSCO—was honored on Thursday by the Hellenic-Chinese Chamber of Commerce for strengthening bilateral relations. At the ceremony, Karamanlis defended the 2008 agreement, saying it was one of the largest investments in the country. "Today, the port of Piraeus is the 8th largest in the world and the 3rd in Europe," he said.
At the same time, former Prime Minister George Papandreou, previously a strong opponent of the COSCO investment, participated in China's military parade this year and attended a dinner hosted by the Chinese president.
The current Prime Minister Kyriakos Mitsotakis is often criticized by Karamanlis, particularly on foreign policy issues. With the political landscape becoming increasingly fragmented, a coalition government is considered almost certain to be required.
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