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UK wants to ban firms from insuring Russian oil – POLITICO

By staffFebruary 26, 20261 Min Read
UK wants to ban firms from insuring Russian oil – POLITICO
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European Commission President Ursula von der Leyen proposed “a full maritime services ban for Russian crude oil” as part of the EU’s 20th sanctions package earlier this month. Those plans have been held up as part of an ongoing row between Hungary and European leaders over access to Russian oil.

It also remains unclear whether the EU will be acting in concert with all G7 partners, as it did with the Russian oil price cap policy.  

While quizzing Bryant, Trade and Business Committee Chair Liam Byrne said it was his understanding that “our American colleagues are not quite there yet.” 

Alexander Kirk, sanctions campaigner at the Germany-based human rights organization Urgewald, said: “The United Kingdom has a choice. It can wait in line, or it can lead.

“The Maritime Services Ban should be implemented immediately and without advance warning. A decisive move would send a shockwave through Putin’s war machine. Continued delay only emboldens the Kremlin and undermines Britain’s own security.”

Blythe, the government official, told the committee the U.K. would act as soon as possible, although timeframes depended EU partners.

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