The European Union may introduce an insurance ban for ships carrying Russian oil, Andriy Yermak, Head of the Office of the President of Ukraine has said.
“According to the data from Wall Street Journal, this will be part of the sixth sanctions package. This ban is one of the most serious financial instruments of the EU’s influence that the bloc has at its disposal to harm the Russian economy. Now it will be difficult for Russia to sell its oil to Asia, as European companies insure most of the world’s oil trade,” Yermak wrote on Telegram.
ALSO READ: EU Says to Facilitate Food Exports from Ukraine
The EU and the UK are also discussing a coordinated ban on insuring ships carrying Russian oil, he asserted.
(This story has been sourced from a third-party syndicated feed, agencies. Raavi Media accepts no responsibility or liability for the dependability, trustworthiness, reliability, and data of the text. Raavi Media management/ythisnews.com reserves the sole right to alter, delete or remove (without notice) the content at its absolute discretion for any reason whatsoever.)
