The cost of insuring merchant ships sailing to ports in the Black Sea has spiraled out of control, becoming a huge potential impediment to the movement of Russian cargoes from the region.
London’s marine insurance market has added all of Russia’s waters to its list of areas deemed high risk, an advisory showed, which is likely to raise the cost of shipping and adds to the logistical pressures on Moscow.
The EU is proposing further sanctions against the Kremlin after allegations of Russian war crimes in Ukraine, with EU ambassadors meeting on Wednesday to decide what steps to take.
A shipment of nearly 3,000 electric vehicles produced by Polestar and other notable automakers was the first delivery unloaded at the new expanded marine terminal, Bastenaken West, at the port of Zeebrugge in Belgium.
