Russian Ship Insurer Says It Won't Fill Void Caused by Sanctions
A Russian LNG tanker in port in Saint Petersburg, Russia.
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A top Russian insurer of oil tankers against risks including collisions and spills said it won’t fill any void that’s created by sanctions targeting the nation’s petroleum exports.
Group of Seven sanctions that started on Dec. 5 prohibit companies from providing insurance related to Russian oil if the cargo is purchased at a price of more than $60 a barrel.