European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them scrambling to impress investors still vocal on sustainability. Despite an energy crisis following sanctions on Russia, major …
A handful of shipowners still willing to transport Russian crude are reaping big rewards on at least one route as others shun the trade. Shippers can earn around $1.6 million hauling Russian ESPO oil on a small tanker from the …
Group of Seven nations are discussing a cap on the price of Russian oil that would work by imposing restrictions on insurance and shipping, according to people familiar with the matter. The potential mechanism would only allow the transportation of …
European officials are skeptical of a U.S. push to set a price cap on Russian oil by potentially easing an EU ban on insurance for the transportation of crude and petroleum products from Russia, according to people familiar with matter. …
Treasury Secretary Janet Yellen said talks are continuing on how the US and its allies might cap the price of Russian oil exports, possibly through a plan that offers exceptions to the European ban on insuring Russian oil shipments. “We …
Russia’s state-run Sovcomflot has insured all its cargo ships with Russian insurers and the cover meets international rules, the chief executive said, after Western insurers withdrew cover. Western insurers halted insurance cover for Russia’s biggest shipping group when Sovcomflot was …
Operations at Russia’s Sakhalin 1 oil project will continue to face disruptions for “a couple of months” as Western sanctions have hit insurance cover for ships to transport crude, according to India’s ONGC Videsh, a stakeholder. ONGC Videsh, the overseas …
State-controlled Russian National Reinsurance Company (RNRC) is now the main reinsurer of Russian ships, including Sovcomflot’s fleet, after Western insurance firms withdrew cover for Russian shipowners, three people familiar with the matter told Reuters. Insurance is essential for maritime transport, …
U.S. Treasury Secretary Janet Yellen said a plan to ban European and UK firms from insuring tanker shipments of Russian oil could help limit Moscow’s energy revenues as allied countries seek to curb revenues flowing to Moscow. The U.S. has …
BRUSSELS – The European Union on Thursday gave its final approval to new sanctions on Russian oil and top bank Sberbank, after much wrangling with Hungary, as punishment for Russian President Vladimir Putin’s Feb. 24 invasion of Ukraine. EU leaders, …
