The European Union is seeking to go beyond an import ban on Russian crude, targeting insurers in a move that could dramatically impair Moscow’s ability to ship its oil anywhere in the world. The bloc is proposing to ban European …
Major aircraft lessor Avolon recorded a first-quarter impairment of $304 million to cover the full financial impact of having 10 jets still stuck in Russia following European Union sanctions that forced the termination of all Russian leases. Ireland’s Avolon said …
Just under 500 seafarers remain stuck onboard 109 ships at Ukrainian ports – skeleton crews who were left on board to enable their crew mates to be evacuated amid the conflict with Russia, shipping officials said on Friday. Those remaining …
EasyJet Plc terminated rental contracts on six Airbus SE jets owned by a Russian state leasing company in a rare example of sanctions depriving a European carrier of aircraft. EasyJet canceled the leases on the A319 narrowbodies owned by a …
Shares in Lloyd’s of London insurer Lancashire jumped nearly 10% on Thursday as it estimated net losses in Ukraine at around $20-30 million and said further potential losses in the region were within its risk tolerance levels. Lancashire was continuing …
India’s Oil and Natural Gas Corp. (ONGC) is struggling to find a vessel to ship 700,000 barrels of crude from Russia’s Far East, in a growing sign that complex trades involving one of Moscow’s biggest partners are being interrupted by …
Exxon Mobil Corp. said on Wednesday its Russian unit Exxon Neftegas Ltd. has declared force majeure for its Sakhalin-1 operations due to sanctions on Russia that have made it increasingly difficult to ship crude to customers. The Sakhalin-1 project produces …
Air Lease Corp. said on Friday it would write off the value of the 27 jets it has remaining in sanctions-hit Russia, a move that is expected to lead to charges of about $802 million. Global aircraft leasing companies have …
Much attention was paid to ESG (environmental, social, and governance) issues and the Russian invasion of Ukraine as Marsh McLennan reported the highest first-quarter underlying growth in more than 20 years. First quarter net income attributable to the company was …
New Delhi is halving its fundraising goal for Life Insurance Corp. of India’s IPO to 300 billion rupees ($3.9 billion), having had to cut its valuation estimates after feedback from investors, a government source said. The drastic lowering of ambitions …
