Bloomberg and Danwatch investigate a shift of Russian oil tanker insurers to domestic providers, and firms from Cameroon or Kyrgyzstan as western sanctions force vessels to operate in shadow.
Bloomberg and Danwatch’s investigation revealed a significant shift among Russian oil tanker insurers, with Moscow-based providers increasingly stepping up to the plate amid western sanctions.
After the full-scale invasion in Ukraine, in February 2022, Western nations imposed sanctions on Russian Oil – introducing import bans, price caps, and restrictions on maritime shipping and insurance. Russia has managed to evade these sanctions by using a clandestine, “shadow fleet” that transports oil and goods in secret, generating revenue for the war effort.
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