Europe Seeks G-7 Coordination on Russian Oil Insurance Ban
- EU nations meet on Wednesday to clinch deal on oil sanctions
- Joint insurance prohibition push would drain Putin’s war chest
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The European Union is working to coordinate a ban on providing the insurance services needed to ship Russian oil anywhere in the world with some Group of Seven members, according to people familiar with the matter, in a move that could further hit Moscow’s ability to finance its war in Ukraine.
The European Commission, the bloc’s executive arm, is in talks with the U.K. as part of the effort, said one of the people, who asked not to be identified because the plans are private.