London marine insurers extend high-risk area to all Russian waters
April 5, 2022, 9:25 am

London marine insurers extend high-risk area to all Russian waters

London’s marine insurance market on Monday (4 Apr) added all of Russia’s waters to its list of areas deemed high risk (File photo: Pixabay)

The Nasdaq reported, citing Reuters, a UK advisory showed, London’s marine insurance market on Monday (4 Apr) added all of Russia’s waters to its list of areas deemed high risk.

Guidance from the Joint War Committee, which comprises syndicate members from the Lloyd’s Market Association (LMA) and representatives from the London insurance company market, is watched closely and influences underwriters’ considerations over insurance premiums.

Following Russia's invasion of Ukraine on Feb. 24, the JWC last month added Ukrainian and Russian waters around the Black Sea and Sea of Azov to its high-risk areas, as well as waters close to Romania and Georgia.

Withdrawn Russian invaders set up a specialized street market selling property looted in Ukraine. The "range" includes washing machines & dishwashers, refrigerators, jewelry, cars, bicycles, motorcycles, dishes, carpets, works of art, toys, cosmetics. In Belarus, Russians unload the loot from Ukraine from their military KAMAZs and send it to Russia by the Russian express delivery SDEK. This was reported by Ukrainian Intelligence & by Belarusian telegram channels supported by videos from post office https://facebook.com/DefenceIntelligenceofUkraine/posts/283500837294677 https://t.me/Hajun_BY/3615
Posted by Euromaidan Press on Saturday, April 2, 2022

Russia's maritime sector is grappling with the winding down of services including ship certification by leading foreign providers - vital for accessing ports and securing insurance - shipping companies pulling out and ship engine makers suspending training on their equipment due to the imposition of Western sanctions on Moscow.

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The report said that the inclusion of Russian waters by the JWC is expected to add to the cost pressures on shipping with Russia, including on grains exports.

It noted that global outcry at civilian killings near Kyiv as fighting shifts east

Source: nasdaq

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Upon arriving to participate in the summit of the European Political Community, which includes around forty heads of state in Budapest, he said, "I look forward to sitting with the elected U.S. president and seeing how we will collectively ensure we meet challenges, including the threats from Russia and North Korea." He also noted that the strengthening of ties between Russia and North Korea poses a threat to the United States as well, according to reports from Agence France-Presse.

Before Trump's victory, Rutte expressed confidence that a united Washington would remain part of the defensive alliance, even if Trump became the 47th president of the United States. In an interview with German public broadcaster ZDF last Monday night, he stated that both Republicans and Democrats understand that NATO serves not only the security of Europe but also that of America. He added that both candidates are aware that the security of the United States is closely tied to NATO.

On Wednesday, NATO congratulated Trump on his victory but did not address the Ukrainian issue.

It is noteworthy that the relationship between the elected U.S. president and the defense alliance was not the best during his first term in the White House. Trump criticized NATO member states multiple times and even hinted at withdrawing from the alliance unless they increased their financial contributions.

Additionally, the issue of the Russian-Ukrainian war is one of the matters that complicate relations between the two sides, especially since Trump has repeatedly stated that he can end this ongoing conflict, which began in 2022, quickly. He implied that he had a peace plan between Kyiv and Moscow, while his vice president, JD Vance, revealed aspects of that plan, which stipulated Ukraine's commitment not to join NATO, thereby sending reassuring signals to the Russians.

Furthermore, many NATO member states in Europe fear that Trump might halt military aid to Ukraine after he previously criticized the U.S. for pouring funds into supporting Ukrainian President Volodymyr Zelensky.