Latest Russia Headlines
All the headlines from our Russia Topic Page, ordered by recency.
Japan Urges Its Insurers to Retain Marine War Cover for LNG Shippers in Russian Waters
Dec 27 2022 // The Japanese government has asked insurers to take on additional risks to continue providing marine war insurance for liquefied natural gas (LNG) shippers in Russian waters, a senior official at the industry ministry...
Exxon Avoids Hiring Tankers That Previously Transported Russian Oil
Dec 21 2022 // Exxon Mobil Corp., is avoiding hiring oil tankers that previously carried cargoes from Russia, putting itself in the same camp as Shell Plc with a move that pressures owners to choose whether to serve Moscow’s...
EU Unity Over Russia Sanctions Falters as Europe’s Economy Weakens
Dec 20 2022 // European Union unity over sanctions on Russia has started to falter as jitters about the impact on Europe’s own stumbling economy weakens resolve to punish Moscow for war in Ukraine. EU leaders agreed on Thursday...
Could G-7 Sanctions Against Russia Have Unintended Insurance Consequences?
Dec 16 2022 // The G-7 sanctions on Russian oil, which include a $60 per barrel price cap and restrictions on key services such as insurance, may have unintended consequences, according to a maritime insurance specialist. One of those...
Oil Tanker Owners Show Signs of Shunning Russia’s Crude in Response to G-7 Sanctions
Dec 16 2022 // There are tentative signs that oil tanker companies are avoiding sending their ships to collect crude from a key Russian port in Asia following G-7 sanctions targeting Moscow’s petroleum revenues. Since Dec. 5,...
Russia Insurer Ingosstrakh Has No Plans to Fill Insurance Gap Caused by Sanctions
Dec 13 2022 // Russian insurer Ingosstrakh said on Monday it has no plans to offer policies to new clients who may lose coverage from international insurers after restrictions against Russian oil came into force on Dec. 5. The European...
G7 Price Cap on Russia Oil Not to Blame for Tanker Queues: EU Says
Dec 9 2022 // The Group of Seven countries’ price cap on Russian oil is not responsible for a queue of tankers waiting in the Black Sea to pass through Istanbul’s Bosphorus Strait on the way to the Mediterranean, the...
G-7’s Price Ceiling on Russia Oil Isn’t Low Enough to Hit Putin’s War Budget: Economists
Dec 8 2022 // The Group of Seven’s price ceiling on Russian oil exports isn’t low enough to take a big bite out of the Kremlin’s revenues next year and economists say even if it does lead to a drop in crude production,...
Oil Tanker Clears Turkish Shipping Logjam With Letter From Russian Insurer: Document
Dec 7 2022 // A letter provided by Russian insurer Ingosstrakh enabled the first oil tanker to sail through Turkish waters in recent days after tougher regulations were imposed by Turkish authorities, a document showed. This has led...
Russia Oil Sanctions Fuel Boom for Old Tankers
Dec 6 2022 // The market for old oil tankers is booming, and it’s all down to efforts by Western nations to curb trade in Russian crude. As Western shipping and maritime services firms steer clear of Russian oil to avoid falling...
Russian State-Owned Bank VTB Hit by Massive Distributed-Denial-of-Service Attack
Dec 6 2022 // Russia’s No. 2 bank VTB was hit by the largest cyber attack in its history, it said on Tuesday, warning of temporary difficulties in accessing its mobile app and website, but assuring customers that their data...
Turkey’s Proof-of-Insurance Rule Ensnares Russian Oil Shipments
Dec 6 2022 // Oil shipments from Russia and Kazakhstan are getting ensnared in a Turkish government rule to provide proof that tankers are insured when navigating the vital Bosphorus and Dardanelles shipping straits. The measure, which...
Here’s What You Need to Know About Russia Oil Sanctions, Effective Dec. 5
Dec 5 2022 // After months of planning and negotiations, the biggest tranche of sanctions on Russian oil to date take effect on Monday. How big their impact will be remains uncertain. The Group of Seven clinched a last-minute deal to...
EU Agrees to $60 Price Cap for Russian Oil, Allowing Buyers to Access Insurance
Dec 2 2022 // The European Union agreed to put a price cap on Russian oil at $60 a barrel, paving the way for a wider Group of Seven deal, according to a Polish diplomat. The price is higher than where Russia already sells most of its...
Aircraft Lessors’ Lawsuits Against Their Insurers Rise to $8B for Seized Russian Planes
Nov 30 2022 // Aircraft leasing firms are suing dozens of insurers for around $8 billion in a string of lawsuits over the loss of hundreds of aircraft stuck in Russia since Moscow’s invasion of Ukraine. More than 400 leased planes...
Western Governments Struggle to Set Russian Oil Price Cap Before Dec. 5
Nov 30 2022 // Western governments want to set a maximum purchase price for Russian oil on the world market to limit Moscow’s ability to raise money for its war on Ukraine. The plan is meant to punish Russia while at the same time...
Russia Seeks to Boost Recognition of its Shipping Insurance to Dodge Sanctions
Nov 30 2022 // Moscow is seeking to bolster the recognition of Russian maritime cargo insurance to allow it to ship oil and related products abroad in the face of Western sanctions, a government official was quoted as saying on...
SMBC Joins List of Aviation Lessors Suing Insurers Over Jets Stuck in Russia
Nov 29 2022 // SMBC Aviation Capital has joined most of the world’s largest aircraft lessors in pursuing insurance claims through the courts over jets it owns that are stuck in Russia, an Irish High Court filing...
Russia Says It Won’t Sell Oil to Nations That Cap Prices
Nov 22 2022 // Russia doesn’t plan to supply crude or oil products to nations that implement a price cap, according to Deputy Prime Minister Alexander Novak. Instead, Russia will redirect its oil supply to “market-oriented...
Aircraft Lessors Sue Insurers for $6.5 Billion Over Planes Trapped in Russia
Nov 22 2022 // Aircraft leasing firms are suing dozens of insurers for around $6.5 billion in a string of lawsuits over the loss of hundreds of aircraft stuck in Russia since Moscow’s invasion of Ukraine. More than 400 leased...
