marine insurance News

G-7 Considers Options to Harden Price Cap on Russian Oil

Group of Seven nations are exploring ways to toughen the price cap on Russian oil as they seek to better target Moscow’s ability to fund its war against Ukraine, according to people familiar with the matter. Options under consideration range …

Denmark Warns That Russia May Send Warships to Escort Oil Tankers

Denmark warned that Russia’s navy may start escorting the so-called shadow fleet tankers through Danish straits to escalate provocations against NATO countries. Threats against Denmark have become “more serious,” and Russia now has more options to challenge North Atlantic Treaty …

UK Targets Russian Oil Trading ‘Lynchpins’ With Sanctions

The UK announced fresh sanctions targeting alleged “lynchpins” that enable the trade of Russian oil, along with 20 “shadow fleet” vessels. The financial curbs on oil trading firms, 2Rivers DMCC and 2Rivers Pte Ltd. will clamp down on Russia’s oil …

Third Tanker Sends Distress Call as Oil Washes Up on Russia’s Black Sea Coast

Spilled oil has washed up along “tens of kilometers” of the Russian Black Sea coast after two tankers were badly damaged in a storm at the weekend, a regional official said on Tuesday, and state media said a third ship …

Baltic Sea Countries to Start Checking Insurance Status of Tankers Moving Russian Oil

Twelve European countries are set to clamp down on tankers that move millions of barrels of Russian petroleum around the world — by asking to see how they’re protected against oil spills and other high-cost claims. Nations including Denmark, Estonia, …

Stricken Oil Tankers Show Risks of Russia’s Aging ‘Shadow Fleet’

Russian authorities sought to limit the damage on Monday from oil spilled into the Kerch Strait by two aging tankers that were damaged during a heavy weekend storm, highlighting the environmental and insurance risks of Russia’s “shadow fleet.” One crew …

Ukraine Identifies Tankers It Says Are in Russia’s Shadow Oil Fleet

Ukraine identified 238 tankers it said belong to a shadow fleet of ships that Russia is using to keep its oil and fuels moving around the world — with a view to western authorities sanctioning the carriers. The Military Intelligence …

UK Expands Sanctions Against Russian Oil Fleet and Its Insurers

The UK government expanded its sanctions against Russia’s energy industry on Monday, blacklisting dozens of tankers responsible for moving the nation’s oil as well as two insurers involved in the trade. The measures ban any cooperation with Moscow-based insurers AlfaStrakhovanie …

Sweden Probe Into Broken Cable Advances as Seabed Study Winds Up

Sweden’s Navy completed a survey of the seabed near one of the damaged data cables in the Baltic Sea as the Nordic country investigates potential sabotage against the underwater infrastructure. A high-speed fiber optic cable connecting Finland and Germany was …

Finland and Lithuania Report Severed Undersea Data Cables

An undersea data cable connecting Finland and Germany was cut in the early hours of Monday by what was likely an external impact and a nearby link between Lithuania and Sweden was also damaged. The 1,200-kilometer (750-mile) high-speed fiber optic …