EU, UK Agree to Insurance Ban on Ships Carrying Russian Oil
The EU and the U.K. have agreed to a coordinated ban on insuring ships carrying Russian oil, Financial Times reported May 31. The measure comes after European Commission President Ursula von der Leyen's statement over the EU's sixth sanctions package…
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on Russia following its invasion of Ukraine. Von der Leyen touted a ban on insurance and reinsurance of Russian ships by EU companies along with a ban on 90% of Russian oil imports by the end of 2022 -- a number arrived at in a bid to appease Hungary.