WSJ learned of EU plans to ban insurance for tankers with oil from Russia

According to the WSJ, this will prevent RUSSIA from selling its oilin Asia, since European companies insure almost all of the world's supplies of this fuel.On May 30, the EU, after a month and a half of discussions, agreed on a ban on oil supplies by sea

As part of the embargo on Russian oil, the EU will also ban insurance on tankers carrying it, diplomats and officials on condition of anonymity told The Wall Street Journal.

The publication explains that this ban will affect tankers carrying Russian oil around the world and cut it off from the Asian market, as European companies insure most of the world's oil trade.

On May 30, after a month and a half of discussions, the EU agreed on a partial ban on Russian oil imports. The sanctions will not include pipeline deliveries, but according to the HEAD of the European Council, Charles Michel, the restrictions will affect more than two-thirds of oil supplies from Russia.

FT learned about EU plans to impose duties on Russian oil because of Hungary Politics

Hungary, Germany and Poland received about a third of the raw materials through pipelines, but the latter two themselves decided to refuse any form of its supply from Russia. As explained by the head of the European Commission Ursula von der Leyen, by the end of the year, oil will enter the EU only through the southern part of the Druzhba pipeline, which accounts for 10% of the total volume of oil bought by the EU from Russia.

The European Union began discussing an embargo on Russian oil in mid-April as part of the sixth round of sanctions. Hungary, which receives 60% of its oil from Russia, opposed it.

The European Union agreed to a partial embargo on oil from Russia. What does it mean Business

Read on RBC Pro Pro usaand CHINA are fighting for the market of rare earth metals.How to Make Money Pro Articles 8 Things You Should Never Say in an Interview Pro ArticlesHow the Russian analogue of LinkedIn replaced Facebook* and what business does there Cases Pro Digitalization for aksakals:how Russians make money in UzbekistanPro Fuel market in new realities: what to expect from gasoline prices Articles Pro "Small village company":DNS co-founder talks about his business

Last year, the EU countries brought about €32.7 billion worth of crude oil by sea, or 68% of all oil imports from Russia. For another €21.2 billion, Europe imported Russian oil products by sea. According to BLOOMBERG estimates, Russia's losses due to the EU-agreed partial embargo on Russian oil will amount to about $22 billion a year: about $10 billion due to a ban on offshore oil exports, another $12 billion from cutting off supplies through the northern branch of Druzhba.

The Kremlin said earlier that if European countries refuse Russian raw materials, Russia will compensate for the falling orders with the eastern direction. Presidential press secretary Dmitry Peskov noted that the world market is not only European, but the latter is premium. He also said that such a decision would "hit everyone."

Dietary supplements and vitamins in EAPTEKE. Fast shipping. Medicines at competitive prices. Discounts and promotions. Vitamins for all occasions. Order on the site!