UK and EU hit Russian oil cargoes with insurance ban

Hanah Lopes

The UK and EU have agreed a co-ordinated ban on insuring ships carrying Russian oil, shutting Moscow out of the vital Lloyd’s of London insurance market and sharply curbing its ability to export crude, according to British and European officials. Lloyd’s has been the heart of the marine insurance industry […]

Russian oil’s Achilles’ heel: insurance

Hanah Lopes

LONDON/NEW DELHI/TOKYO, May 25 (Reuters) – Russia has so far deflected much of the impact of sanctions on its oil trade but the insurance industry threatens to throw a spanner in the works unless Moscow and its customers can plug a gap left by Western underwriters. Insurers from Europe and […]