Translated material
EU and the UK will ban vessel insurance with Russian oil
Great Britain and the European Union agreed to ban on insurance of vessels with Russian oil, reported by The Financial Times. At the same time, Russia reduced the duties for export of oil.
" Kommersant " drew attention to the publication. Thus, carriers of Russian oil will lose access to the British insurance market Lloydʼs of London - the largest for sea transportation. This will limit Russia to the export of oil-raw oil by sea, she will have to look for other insurers.
According to Helim Croft, the head of the department of commodity-rawy strategy of the International Investbank RBC Capital Markets, the refusal to export Russia to export its oil. She called it one of the most stringent measures in the European arsenal.
According to the sources of The Financial Times, representatives of the British insurance market opposed the embargo. They pointed out, in particular, that it is difficult to accurately establish the origin of oil, which is transported by ships leaving the Russian ports. There, for example, oil from Kazakhstan may turn out to be.
From June 1, the oil export duty from Russia will decrease by $ 4.8 - to $ 44.8 per ton. This was reported by RIA Novosti with reference to the Ministry of Economic Development.
- On May 31, the European Union agreed on the sixth package of sanctions against Russia, it includes a partial ban on the export of Russian oil. It does not apply to oil supplied through pipelines. Nevertheless, the import of Russian oil into the European Union by the end of the year can be reduced by 90%.
- The day before, it became known that some OPEC member countries consider the possibility of suspension of Russia's participation in an oil production transaction. In the OPEC, discussions were explained by the fact that European sanctions and embargo "begin to undermine the ability of Moscow to produce more oil." According to the publication, oil production in Russia this year will be reduced by about 8%.
- Sanctions against Russia are introduced after the invasion of its troops in Ukraine on February 24 by order of President Vladimir Putin. About 21 billion rubles a day are spent daily on the war with Ukraine. Compared to the pre -war period, the expenditure on the "national defense" has more than doubled, reports Moscow Times.