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Policy

EU's Russian Oil Insurance Ban Would Have 'Massive Impact'

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  • An EU ban on insuring Russian oil shipments, due to come into force by the end of the year, could send oil prices soaring.
  • The US Treasury is advocating a “price cap” on Russian oil shipments that is so far light on detail but would tweak existing EU sanctions.
  • The big winner from the stand-off is Russia, which has kept its oil exports stable by selling more discounted barrels to India and China.

The Issue

Topics:
Sanctions, Policy and Regulation, Oil Trade
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