EU uses insurance ban as its largest slam to Russian oil exports so far

Insurance ban - Oil Cargo Ship

The European Union has deepened its impact on curbing Russian revenues from exported energy. The European Union’s insurance ban on Russian oil exports is the largest hit so far that it has sent to the country’s energy revenues. The EU has embargoed 90 percent of all its Russian oil imports by the end of 2022. While the embargo on the vast majority of Russian oil imports is a big strike against the country’s energy revenues, what is likely to be much more damaging is the insurance ban put in place.…

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