Western Insurers May Inadvertedly Help To Ship Russian Crude ...Middle East

Western tanker insurers are concerned that they may inadvertently help ship Russian crude oil above the $60 per barrel price cap as purchases and transactions have become opaque since the G7 introduced the price ceiling in early December 2022.   Protection and indemnity (P&I) clubs have attestation that the shipments they are covering have not been bought above the price cap, but they are wary that increasingly evasive practices by Russia and its new crude customers may obscure the actual price at which Russian crude cargoes are being…

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