November 2, 2022
Insurers are no longer offering new cargo insurance cover for shipments out of Ukraine through a U.N.-backed safe corridor after Russia suspended its participation, industry sources said on Tuesday. An export deal, agreed by Russia and Ukraine and brokered by …
October 31, 2022
Lloyd’s of London insurer Ascot is suspending writing cover for new shipments using the Ukrainian grains corridor in the Black Sea until it has more clarity about the situation there, a senior official said on Monday. Moscow said it was …
October 31, 2022
Ships brought grain from Ukrainian ports on Monday, suggesting Moscow had stopped short of reimposing a blockade that might have caused world hunger, despite suspending its participation in a U.N. program to safely export grain from the war zone. Air …
October 24, 2022
Just six weeks before European Union sanctions on Russian oil come into effect, insurers are still unclear as to exactly how they will work. At the heart of the uncertainty is a continued lack of detail surrounding US-led plans, endorsed …
October 21, 2022
Russia can access enough tankers to ship most of its oil beyond the reach of a new G-7 price cap, industry players and a U.S. official told Reuters, underscoring the limits of the most ambitious plan yet to curb Moscow’s …
October 19, 2022
The European Union’s latest sanctions on Russian petroleum could end up depriving a swath of the world’s tanker fleet of industry standard insurance, a move that threatens to undermine US efforts to avert an oil supply shock. The bloc’s eighth …
October 18, 2022
Russia’s biggest oil exporter Rosneft has expanded its tanker chartering business to ease oil shipments for buyers amid looming Western sanctions on insurance of Russian oil shipments, three sources familiar with the matter said. Previously, state controlled Rosneft, which produces …
October 17, 2022
Oil output at the giant Exxon-led Sakhalin-1 Russian Pacific project collapsed following the U.S. major’s refusal to accept local insurance for tankers after Western insurers pulled out due to sanctions, several industry sources told Reuters. Western insurers withdrew cover from …
October 11, 2022
European Union sanctions on Russian oil might still be eight weeks away, but they’re hitting trade in the nation’s crude already. The bloc’s measures, including a ban on insuring tanker shipments, enter into force on Dec. 5. A Russian cargo …
September 28, 2022
The European Union is considering adding shipping restrictions to its oil sanctions as the bloc continues to discuss the introduction of a price cap on Russian oil, according to people familiar with the matter. A shipping ban would prohibit EU …