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Scope of EU Ban on Russian Coal and Fertilizers Jolts Insurers

Aug. 15, 2022, 2:00 PM

The European Union jolted insurers and shippers by clarifying that a ban on EU entities servicing exports of Russian coal and some fertilizers applies to shipments anywhere in the world.

An EU ban on imports of Russian coal and other goods into the 27-nation bloc started on Aug. 10, following a wind-down period of four months. In a clarification, the bloc said the sanctions also prohibit EU operators from providing services -- such as financing and insurance -- to all shipments of such products originating in Russia.

“The prohibition relating to coal and to certain fertilizers refers both to the ...