Insurance companies issue EU guidance on new Russia sanctions

Shipowners in the EU are allowed to carry Russian oil to countries outside the union – but the cargo cannot be insured in the EU, according to a circular from leading marine insurance companies.

Photo: Colourbox / arkivfoto

The international group of marine insurance companies, which controls 90% of the market, has issued a circular in relation to the EU’s sixth sanctions package against Russia.

The package was adopted by the EU countries at the beginning of June as a response to Russia’s warfare in Ukraine.

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