Tag: no insurance Russian oil

Europe Seeks G-7 Coordination on Russian Oil Insurance Ban

American Club insuring Iran oil

According to people familiar with the matter, the European Union is working with some Group of Seven members to coordinate a ban on providing the insurance services required to ship Russian oil anywhere in the world, a move that could further limit Moscow’s ability to finance its war in Ukraine. As part of the effort,… Continue reading Europe Seeks G-7 Coordination on Russian Oil Insurance Ban

EU Aims to Target Russia’s Global Oil Sales with Insurance Ban

Aerial view Crude oil tanker under cargo operations on typical shore station with clearly visible mechanical loading arms and pipeline infrastructure.

The European Union is attempting to go beyond an import ban on Russian crude, focusing on insurers in a move that could severely limit Moscow’s ability to ship its oil anywhere in the world. According to officials and a draft document obtained by Bloomberg, the EU is considering prohibiting European vessels and companies from providing… Continue reading EU Aims to Target Russia’s Global Oil Sales with Insurance Ban