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UK’s Asset Freeze of Russian Shipping Firm Sovcomflot Causes Problems for Re/Insurers

March 25, 2022

Russia’s top shipping company Sovcomflot (SCF), already struggling to find berths to discharge cargoes, is facing fresh pressure after the UK on Thursday joined countries that have slapped sanctions on it, with implications for insurance and certification.

With a modern fleet of ships, state-run SCF is a key transporter of Russian oil and liquefied natural gas but also carried cargoes previously from other countries such as the United States.

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