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The U.K. government has introduced a law banning the use of insurance services for the transportation of Russian oil, unless the cargo is purchased below the price cap recently agreed by the G7 nations, TradeWinds reported. The ban, which is effective Dec. 5 for Russian crude exports and Feb. 5, 2023 for refined oil products, also covers other shipping services including shipbroking.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
2. Zurich Insurance to stop underwriting new oil and gas projects
3. Bermudan, European reinsurers to suffer major hit from bridge collapse
4. Tycoon gets death sentence for multi-billion-dollar fraud
5. Inflation drives 10% increase in sum insured for windstorms
6. Apple loses bid to throw out $977M lawsuit over app store fees