Sanctions loophole lets UK insurer cover tankers carrying Russian gas

Looming divergence between the British and EU regimes would create a “compliance nightmare” for companies operating across the two jurisdictions, said Gonzalo Saiz Erausquin, research fellow at the Centre for Finance and Security at the Royal United Services Institute. This would “weaken the collective effect of these measures because shipping and insurance can be reorganised around the more permissive jurisdiction. The main beneficiary of these gaps will be Russia.”