UK government bans insurance of ships carrying Russian oil
The UK will contribute to the international embargo on Russian oil.
Indeed, the UK Treasury going to ban British Insurers to provide insurance coverage to ships carrying Russian oil cargoes from December 5th, 2022.
It also means that ships registered in European state or carrying Protection and Indemnity (P&I) insurance from an EU or UK-based entity can no longer carry crude oil that originated in Russia.
