EU mulls imposing insurance ban on ships carrying Russian oil

The European Union may introduce an insurance ban for ships carrying Russian oil, Head of the Office of the President of Ukraine Andriy Yermak said on Telegram, News.Az reports.

“According to the data from Wall Street Journal, this will be part of the sixth sanctions package. This ban is one of the most serious financial instruments of the EU’s influence that the bloc has at its disposal to harm the Russian economy. Now it will be difficult for Russia to sell its oil to Asia, as European companies insure most of the world’s oil trade,” Yermak said.

The official noted that the EU and the United Kingdom are also considering imposing a coordinated ban on insuring ships carrying Russian oil.


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