Uncertainty remains on impact of ban on oil markets: Platts Analytics China, India importers tread cautiously, look for alternative options Even if Russian insurers provide coverage, re-insurers will be unwilling Asian import of Russian oil is unlikely to slow immediately following the pledge by the European Union to prohibit EU operators from insuring seaborne transport to third countries, but buyers in the region are already scrambling to make alternative arrangements to sustain purchases after the winding down period.
Analysts said while the announcement will prompt some buyers in China and India to tread carefully, the statement by Dmitry Medvedev, deputy chairman of the Russian security council, that the non-OPEC supplier can bypass the EU ban may keep hopes alive that discounted Russian oil can keep flowing to Asia. “As the war between Russia and […]