Top Shipping Flag Cuts Approval for Sanctioned Russian Insurer
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The world’s largest shipping register withdrew its approval for Russia’s Ingosstrakh Insurance Co. to provide a key document enabling ships to enter ports.
The Liberian Register — under whose flag 16% of the world’s ships by capacity sail — said in a circular that it no longer authorizes Moscow-based Ingosstrakh Insurance Co. to issue so-called blue cards. Blue cards provide proof of cover against risks including oil spills and collisions. They are essential for port entry.