Biden promised to ban the West from insuring Russian ships with oil

The ban on insurance of tankers with Russian oil was included in the sixth package of EU sanctions. FT wrote,

Western countries will not provide insurance services to Russian ships for oil transportation, US President Joe Biden said during a press conference. The broadcast was hosted by REUTERS.

“We [the West] will not provide insurance to Russian ships to transport oil,” he said.

According to the American president, this will create serious difficulties for RUSSIA in attracting customers and transporting oil.

The European Union, within the framework of the sixth package of sanctions, banned the insurance and reinsurance of oil tankers that transport Russian oil . Such a decision will affect the transportation of Russian oil around the world, including in the Asian market, since European companies insure most of the oil trade in the world, wrote The Wall Street Journal.

Experts assessed the ruble exchange rate under different consequences of the EU oil embargo Economics

In early June, the Financial Times reported that the UK joined the EU decision to ban insurance on tankers carrying Russian oil. The joint decision of Brussels and London will deprive Russia of access to the insurance market of Lloyd's of London and reduce the possibility of exporting crude oil, the newspaper's interlocutors said. Other members of the G7 - the United States, CANADA and Japan, may also join the decision, the publication claimed.

In early June, the European Union approved the sixth package of sanctions against Russia, including a phased ban on the import of Russian oil. Exceptions were made for a number of EU countries: for example, the Druzhba oil pipeline, through which fuel from Russia is supplied to Hungary and Slovakia, was not subject to sanctions . Also, the right to buy Russian oil under certain conditions was left to the Czech Republic, Bulgaria and Croatia.

Read on RBC Pro Pro Fast food and exercise for the brain:how Warren Buffett keeps himself in shape Articles Pro Maximum 730 thousand rubles:how much do testers and DevOps engineers get paid Articles Pro Loves cola and hates sports:how anti-life Elon Musk liveswhich will help to save frames Instructions Pro Weather dependence:Myth or Reality Instructions Pro Coinbase shares collapsed after the crypto.Should I buy them on a drawdown Forecasts Pro The US market is falling.It's time to "buy the bottom" or it's ahead - expert opinions Forecasts Pro Mercy, Baku: taxes,which you will have to pay when moving to Azerbaijan Articles