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UN Secures Insurance Coverage to Salvage Rusting Oil Tanker off Coast of Yemen

June 14, 2023


The United Nations Development Programme (UNDP) announced the successful binding of insurance coverage for the mission coordinated by the United Nations to prevent over a million barrels of oil spilling into the Red Sea.

Securing insurance is a pivotal milestone in enabling the ship-to-ship transfer operation (STS), which aims to avert one of the world’s largest, man-made disasters in history, said UNDP in a statement.

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