EU ban on insurance for Russian oil vessels is 'big blow' to Moscow

The European Union's announcement of its sixth package of sanctions, including a partial ban on Russian oil imports, was hugely significant. Foreign policy chief Josep Borrell called it "a big blow to (Vladimir) Putin's war chest."
But while EU officials are celebrating a win, some analysts warn of the wider economic consequences of clamping down on an industry critical to international trade.
"The restrictions on the insurance are very specific, as it's a distinct market, maritime insurance," Nikolaos Farantouris, Professor of Law at the University of Piraeus, told CGTN.

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