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Turkey has warned that ships hauling oil through its waterway and the nearby Dardanelles strait must prove that they are insured, a move that could restrict flows of Russian oil exports as new European sanctions kick in, Yahoo reported citing Bloomberg. The new rule starts Dec. 1, a few days before the European Union and U.K. impose additional curbs on Russian trade that will make it much harder for tankers carrying oil to get insurance.
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