13 April
2022
London maritime insurers' market declares all Russian maritime waters a "military zone"
The Black Sea, the Baltic and the ports of the Far East will now be considered such a zone
The London Marine Insurance Market has declared all of Russia's maritime waters a "war zone."
It is noted that now, when the ship is going to enter such territory, the owner of the vessel is obliged to inform the insurer and pay a special "military premium", which reaches 5% of the cost of the entire vessel. This makes any collaboration as unprofitable as possible honor with Russia.