According to people familiar with the matter, the Group of Seven nations is discussing a price cap on Russian oil that would work by imposing restrictions on insurance and shipping. The potential mechanism, according to sources, would only allow the transportation of Russian crude and petroleum products sold below a predetermined threshold. G-7 leaders and… Continue reading G-7 Weighs Russia Oil-Price Cap Via Insurance, Shipping Ban
Tag: Russian oil
Europe Seeks G-7 Coordination on Russian Oil Insurance Ban
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
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