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 said. The Financial Services Agency and Agency …
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 [Dec. 15] to a ninth …
Norwegian ship insurer Gard said on Tuesday that an agreement had been reached between Turkey and insurers to enable vessels carrying oil to sail through Turkish waters unhindered. “Following significant engagement between the International Group of P&I Clubs (association of …
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 Union banned all seaborne …
A backlog of tankers waiting to haul oil through Turkey’s vital shipping straits appeared to start clearing, offering hope that authorities in Ankara have resolved a spat with the insurance industry that arose following sanctions on Russia. A port agent …
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 European Commission said. The …
A standoff over sanctions and insurance that has caused a jam of oil tankers at the key Bosphorus shipping strait escalated on Thursday, leaving millions of barrels of crude stuck. Late last month, Turkey insisted on proof that oil-carrying ships …
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, Vladimir …
A backlog of oil tankers at the Turkish straits continues to build up as negotiations failed to produce a solution to an insurance glitch caused by sanctions on Russian crude. Twenty-six tankers holding more than 23 million barrels of oil …
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 already at least 20 oil tankers …
