Latest News for: Ship financing

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G7 price cap on Russian oil: All you need to know

The Times of India 05 Dec 2022
The Group of Seven nations, Australia and the 27 European Union countries imposed on December 5 a price cap on Russian crude oil transported by ships, aiming to reduce Moscow's ability to finance its war in Ukraine and preserve stability on the global oil market.
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Factbox-G7 price cap on Russian seaborne crude oil - main elements

Yahoo Daily News 05 Dec 2022
5 a price cap on Russian crude oil transported by ships, aiming to reduce Moscow's ability to finance its war in Ukraine and preserve stability on the global oil market ... After each change of the cap there will be a 90-day grace period to make sure no ship is caught at sea with a cargo at a price that is no longer valid.
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Factbox-G7 price cap on Russian seaborne crude oil – main elements

FX Empire 05 Dec 2022
5 a price cap on Russian crude oil transported by ships, aiming to reduce Moscow’s ability to finance its war in Ukraine and preserve stability on the global oil market ... After each change of the cap there will be a 90-day grace period to make sure no ship is caught at sea with a cargo at a price that is no longer valid.
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Factbox: G7 price cap on Russian seaborne crude oil: what are the main elements

Reuters 05 Dec 2022
5 a price cap on Russian crude oil transported by ships, aiming to reduce Moscow's ability to finance its war in Ukraine and preserve stability on the global oil market ... After each change of the cap there will be a 90-day grace period to make sure no ship is caught at sea with a cargo at a price that is no longer valid.WHAT IS PROHIBITED.
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Russia doubles down on oil price warning

Russia Today 05 Dec 2022
While the EU has already cut itself off from seaborne Russian oil deliveries, the price cap would forbid European firms from transporting Russian oil priced above the $60 limit by denying them shipping insurance. Ships belonging to third countries would also be denied insurance, financing, and servicing by EU firms ... .
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Column: OPEC+ sits sensibly on its hands as oil uncertainties abound: Russell

Reuters 05 Dec 2022
These factors include. ... Perhaps the more important issue for the Russian crude situation is how will barrels be moved, financed and insured, as there are likely to be constraints in tanker availability to ship Urals to Asian buyers such as China and India, and payments and insurance are also likely to become more difficult ... Our Standards ... Video ... ....
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EU officially adopts price cap on Russian oil

Russia Today 04 Dec 2022
The council said vessels intentionally carrying Russian oil sold above the price cap will face consequences, such as a ban on EU insurance, and financing and servicing connected to third country flagged ships.
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Hungary exempt from price cap on Russian oil – FM

Russia Today 04 Dec 2022
The cap will ban Western companies from insuring or financing vessels that carry Russian oil, unless the cargo is purchased at or below the cap level. Ships violating the price cap agreement will be penalized with the withdrawal of insurance and financing for 90 days ... READ MORE ... For more stories on economy & finance visit RT's business section. .
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China scoops up cheap Russian oil Bloomberg

Beijing News 03 Dec 2022
"It is also believed that the cargoes were bought in Chinese yuan rather than US dollars, and financed through local banks and institutions," Bloomberg wrote ... They explained this by saying their purchases were being made on a delivered basis, which leaves the responsibility of shipping and insurance with sellers.
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China scoops up cheap Russian oil – Bloomberg

Russia Today 03 Dec 2022
“It is also believed that the cargoes were bought in Chinese yuan rather than US dollars, and financed through local banks and institutions,” Bloomberg wrote ... They explained this by saying their purchases were being made on a delivered basis, which leaves the responsibility of shipping and insurance with sellers.
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Seoul places new sanctions on North Korea over arms buildup

Federal News Radio 02 Dec 2022
The eight people and seven companies targeted by Seoul had already been sanctioned by Washington and were involved in a variety of North Korean efforts to evade United Nations Security Council sanctions to finance its weapons program, including ship-to-ship transfers of fuel and illicit exports of labor, the ministry said.
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India to continue buying oil from all countries including Russia: Official

The Times of India 02 Dec 2022
So anyone who can arrange for shipping, insurance and financing outside of the EU can buy oil," the official said ... For Russia to keep oil sales going, it and its buyers need to use ships, insurance and financing outside the jurisdiction of the G-7.
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Seoul Places New Sanctions on N. Korea Over Arms Buildup

Hamodia 02 Dec 2022
The eight people and seven companies targeted by Seoul had already been sanctioned by Washington and were involved in a variety of North Korean efforts to evade United Nations Security Council sanctions to finance its weapons program, including ship-to-ship transfers of fuel and illicit exports of labor, the ministry said.
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Russia price cap not to affect oil imports

Live Mint 02 Dec 2022
India has been assured by global oil suppliers that there will be no disruption in supplies,” the official said.Importers will also be looking at availing services of non-European shipping liners, insurance and finance providers to import Russian oil by circumventing the price cap.
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Reliance Industries buys Russian naphtha

The Telegraph India 02 Dec 2022
South Korea has started importing naphtha from Tunisia, which in turn has seen a jump in supplies from Russia ... Oil imports surge ... New Delhi ... Anyone who can arrange for shipping, insurance and financing outside of the EU can buy oil ... Russia and buyers of its oil need to use ships, insurance and financing outside the jurisdiction of the G7 ... .

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