The EU price cap on Russian oil is already disrupting the market — tankers are piling up off Turkey after Ankara demands insurance paperwork
by limiting how much coverage the insurers can provide — that's because only those vessels carrying cargo priced below the EU cap can access Western maritime insurance.
In a notice issued on November 16, Turkey's government is insisting on documentation of shipping insurance coverage"under any circumstances" — even when the ships breach sanctions"whether knowingly and intentionally or unknowingly and unintentionally", according to aa Norwegian shipping insurer that covers half of the global merchant fleet.
"Issuing a confirmatory letter under these circumstances would expose the Club to a breach of sanctions under EU, UK and US law," according to the statement. The International Group of P&I Clubs is negotiating with the Turkish government.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Oil tankers seen heading to Russia as oil price cap goes into effect on exportsTwo tankers are heading to Russia expecting to be filled with oil as a price cap on exports from a coalition of Western countries goes into affect.
Consulte Mais informação »
G7 price cap on Russian oil kicks in, Russia will only sell at market priceThe G7 price cap on Russian seaborne oil came into force as the West tries to limit Moscow's ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut production
Consulte Mais informação »
Russia will not export oil subject to Western price cap, deputy prime minister saysThe move by the West to prohibit shipping, insurance and re-insurance companies from handling cargoes of Russian crude above the cap, is an attempt to punish Putin for the Ukraine conflict.
Consulte Mais informação »
Russia rejects Western price cap for oil exportsSpeaking to a Russian TV station on Sunday, accusing the Western countries of violating the rules of the World Trade Organization, Russian Deputy Prim
Consulte Mais informação »
Oil Price Rises After Russia Cap Kicks InThe West imposed sanctions on Russian crude, pitching the energy conflict with Moscow into an unpredictable new phase that could inject further volatility into global oil markets.
Consulte Mais informação »
OPEC+ Keeps Oil Curbs Despite Russia Price CapOPEC+ said it will stick to its oil-output cuts amid mounting concerns over Covid lockdowns in China and uncertainty over Russia’s ability to export crude
Consulte Mais informação »