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At least 18, or about a quarter, of Russian seaborne crude shipments to India, China and Turkey have used insurance from western companies since restrictions started on Dec. 5, The Financial Times reports. Under the cap introduced this month, buyers of Russian crude oil can access western services such as insurance and broking, only if they attest that they have paid less than $60 a barrel.
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