Russian oil workers rejoice. The EU and the United Kingdom have postponed a full ban on oil transportation of oil from the Russian Federation - FT

Two months ago, the EU announced a global ban on maritime insurance transporting Russian oil, planning to coordinate appropriate efforts with the UK government. However, London has not yet introduced such restrictions. The UK's participation is crucial to such a ban as the Maritime Insurance Center is in London. Meanwhile, at the end of July, Brussels (ie the EU) changed some restrictions on interaction with state -owned Russian companies, referring to global energy security.

The joint ban on the UK and the EU on maritime insurance should be the most important restriction on Russian oil capable of depriving Moscow access to most of the world tanker fleet. However, US officials have expressed concern that the immediate global ban on maritime insurance will push prices due to the withdrawal of millions of barrels of Russian raw oil and petroleum products from the market.

European and British officials reported in May that the United Kingdom and the EU have agreed to reconcile the ban on Russian oil insurance. However, the last sanctions of the United Kingdom against Russia, approved by Parliament in July, are forbidden to insure only vessels transporting Russian oil to the royal oil, and only after December 31.

The legislation was introduced after the government has promised to ban Russian oil from the end of the year, but it does not prohibit the provision of Russian supplies to other countries, British representatives said. Currently, there is no ban on global supply of Russian oil in the UK, said Patrick Davon's underwriting director of Lloyd's Market Association. However, Lloyd's is in close contact with the British government and "will" work with him on any future sanctions they seek to impose.

" The UK Ministry of Finance has stated that it was still looking for the best option. The Ministry, in particular, is ready to impose further sanctions against Russia and works with the allies, "to ensure their implementation with maximum effect for Russia's economy. " The EU prohibition on insurance was introduced on June 4 and remains in force. This does not allow the block companies to issue a new insurance for any vessel that transports Russian oil anywhere.

The current contracts remain valid until December 5, when all similar activities are prohibited. However, the EU has amended part of its own sanctions to allow European companies to deal with some Russian state -owned companies such as Rosneft, for the purpose of transporting oil to countries outside the bloc.

European companies will no longer be forbidden to pay such companies as Rosneft, "if these transactions are strictly needed" for the purchase or transportation of crude oil or petroleum products to third countries, a representative of the European Commission said. As stated in the EU statement, the measures have been taken to "avoid any potential negative effects on food and energy security around the world.

" Since June, the United States has been working to encourage G7 countries to support the price limitation mechanism that would allow some Russian oil to reach third countries at prices below market prices. Officials in Washington have stated that the US and the United Kingdom are still planning to ban marine services, including insurance, by the time the EU ban is fully in December. But at first they want to set the oil price limit.

According to lawyers, the EU seems to have softened its efforts to restrain the global flow of Russian oil, and a new uncertainty about Great Britain's obligations has emerged among traders regarding the Global Britain. According to the partner of the HFW Law Firm Sarah Hunt, traders are wondering whether it is legitimate to buy Rosneft oil for supplying countries outside the EU. “New EU sanctions are actually allowing European companies to pick up Russian oil.