An oil price cap won't stop China and India from quietly snapping up Russian crude with the help of smaller insurers, S&P Global says
An oil price cap from the G7 nations won't stop China and India from quietly snapping up Russian crude, thanks to the help of smaller insurance companies who are willing to cover the sales, according to S&P Global.
The executive told S&P that there were a handful of Chinese shipping insurers who were able to offer that kind of protection. Firms who are reluctant to do so may offer insurance anyway, due to nudging from the Chinese government.
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