Russian oil worth over $50bn hauled on UK-insured tankers since sanctions

A third of Russian oil has been hauled on tankers insured in the UK since sanctions were imposed in December 2022, according to a new study.

The Centre for Research on Energy and Clean Air (CREA) said it amounted to oil worth more than $50bn transported on tankers using UK protection and indemnity insurance in the 12 months since the oil price cap was introduced in December 2022.