Let’s start with the good news. It won’t take long.
A leak of documents has revealed there is insurance cover in place for some elderly tankers hauling Russian oil around the coastline of Europe — and we know who is providing it.
The bad? It might not count for much.
That’s the conclusion to be drawn from marine insurance documents, seen by the Financial Times and Danish journalism outfit Danwatch, that suggests that Russian insurer Ingosstrakh is covering some of the dozens of tankers dropped by Western protection and indemnity providers owing to concerns of breaching sanctions rules.
