Baltic Sea Countries to Start Checking Insurance Status of Tankers Moving Russian Oil
- Nations to check ships insurance against environmental risks
- Initiative to focus on transparency and data gathering
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Twelve European countries are set to clamp down on tankers that move millions of barrels of Russian petroleum around the world — by asking to see how they’re protected against oil spills and other high-cost claims.
Nations including Denmark, Estonia, Norway and Sweden are to introduce checks on insurance policies of passing Russian tankers, according to people with knowledge of the matter. The plan is set to be announced later today. There has long been speculation that some vessels moving Russian oil and fuel are either uninsured or under-insured against risks including cargo spills, heightening environmental concerns. This may help to bring some clarity to the situation.