The risk of oil spill events has increased as Western countries prohibit businesses from providing shipping, financial and insurance services to vessels carrying oil from Russia at a price above the agreed limit ($60 per barrel). British newspaper reports Finance Timesrefers to industry experts.
The newspaper reported that the CEO of the Norwegian insurance company Gard, Rolf Thor Roppestad, said that a social and environmental disaster was at the door.
“This should be a major concern for all of us,” said Roppestad.
He believes that less reliable insurance companies from non-Western countries may not be very responsible for dealing with the consequences of possible oil spills, which could harm the environment. According to Roppestad, the likelihood of such cases is increasing due to the increasing average age of vessels used to transport Russian oil in light of the sanctions imposed on Russia.
In addition, Ben Lacock, one of the leaders of international trader Trafigura, said that the Øresund Strait between Denmark and Sweden, which is still an important trade route for Russian tankers, remains an area of special concern.
Another Financial Times source representing a London-based insurance broker, speaking on condition of anonymity, expressed doubts that the new institutions that provide insurance services to ships coming from Russia will be able to fully meet their obligations in the event of an oil spill.
formerly Bloomberg reportedHe said the Kremlin’s plans to cut production in March “did not affect” oil exports from Russia.