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I see many early analyses of the EU's #oil #embargo against Russia but one crucial point that is not mentioned very often is that the package is almost certainly going to include a #shipping #insurance ban.
This might make or break the EU's oil embargo. 🧵
This might make or break the EU's oil embargo. 🧵
The details still need to be fleshed out, but if it is included, the #insuranceban is a potentially powerful tool.
95% of shipping insurance for Russian oil was carried out in Europe, primarily in London.
bloomberg.com/news/articles/…
95% of shipping insurance for Russian oil was carried out in Europe, primarily in London.
bloomberg.com/news/articles/…
The insurance ban would not just affect Russian oil exports to Europe. It would affect Russian oil exports everywhere else.
