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putsch80 t1_j1vx5za wrote

Reply to comment by Tony2Punch in Putin bans Russian oil exports to countries that imposed price cap -decree by PatientBuilder499

There aren’t many non-Western insurers, and for those that exist their insurance is often not considered sufficient/creditworthy by western ports where these ships could dock.

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Tony2Punch t1_j1wc7cz wrote

India just hit the news because they were considering doing this

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rubywpnmaster t1_j1xudt9 wrote

Yep the insurer has to be able to prove that they can cover what they are insuring against to be worth a damn.

US insurers only hold 8 trillion in cash and investments to be able to cover their asses. Totally easy industry to jump into.

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