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Russia to Try and Circumvent Insurance Bans

OIL

Russia expects to circumvent the EU insurance and financing ban on Russian seaborne deliveries by using state guarantees, according to Dmitry Medvedev, deputy chairman of the Russian security council on his Telegram channel today.

  • "This problem can be solved -- insuring supplies can be secured by using state guarantees within the framework of interstate agreements with third countries," Medvedev said.
  • Medvedev said Europe “will face a shortage of certain types of fuel, such as diesel, which is needed for trucks and agricultural equipment,"
  • "They know that they will still have to find 'gray' schemes to get our feedstock and pay for it somehow, bypassing their own idiotic sanctions," he said.
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