December 16, 2022
The G-7 sanctions on Russian oil, which include a $60 per barrel price cap and restrictions on key services such as insurance, may have unintended consequences, according to a maritime insurance specialist. One of those consequences is the creation of …
December 16, 2022
There are tentative signs that oil tanker companies are avoiding sending their ships to collect crude from a key Russian port in Asia following G-7 sanctions targeting Moscow’s petroleum revenues. Since Dec. 5, buyers of cargoes from Russia have only …
December 8, 2022
The Group of Seven’s price ceiling on Russian oil exports isn’t low enough to take a big bite out of the Kremlin’s revenues next year and economists say even if it does lead to a drop in crude production, Vladimir …
November 30, 2022
Western governments want to set a maximum purchase price for Russian oil on the world market to limit Moscow’s ability to raise money for its war on Ukraine. The plan is meant to punish Russia while at the same time …
November 11, 2022
Oil-laden tankers risk being left languishing at sea if insurers do not urgently get clarity on an unfinished G7 and European Union plan to cap the price of Russian crude, two senior industry executives told Reuters. The Group of Seven …
October 24, 2022
Just six weeks before European Union sanctions on Russian oil come into effect, insurers are still unclear as to exactly how they will work. At the heart of the uncertainty is a continued lack of detail surrounding US-led plans, endorsed …
October 21, 2022
Russia can access enough tankers to ship most of its oil beyond the reach of a new G-7 price cap, industry players and a U.S. official told Reuters, underscoring the limits of the most ambitious plan yet to curb Moscow’s …
May 20, 2021
Roughly $8.1B of Superstorm Sandy’s damages in 2012 are attributable to “climate-mediated anthropogenic sea level rise,” a report out this week shows. The report published on Tuesday in the journal Nature Communications examined how much of the more than $60 …
June 8, 2015
Some of the world’s richest nations threw their weight behind a plan to stamp out fossil-fuel emissions by the end of the century in an unprecedented show of unity on climate change. The Group of Seven is pushing to “decarbonize,” …