European Union and Britain will ban vessel insurance with Russian oil

The UK and the European Union agreed to ban on insurance of vessels with Russian oil, the newspaper The Financial Times.

reports

According to data, carriers of Russian oil will lose access to the British insurance market Lloyd’s of London – the largest for naval transport, which will limit the capabilities of Russia for the export of oil -raw oil by sea, she will have to look for other insurers.

According to the sources of the publication, representatives of the British insurance market opposed the embargo. They indicated, in particular, that it is difficult to accurately establish the origin of oil, which is transported by ships leaving the Russian ports. There, for example, oil from Kazakhstan may be. The ban on marine transportation of Russian oil, as notes The Financial Times, can lead to an even greater increase in prices, which have already reached a maximum in two months, exceeding $ 123 for the Brent barrel.