British ship insurer West of England has withdrawn cover for two container ships operated by Russia's FESCO Transportation Group after the vessels were
British ship insurer West of England has withdrawn cover for two container ships operated by Russia’s FESCO Transportation Group after the vessels were listed by the U.S. Treasury as part of broader sanctions, West said on Wednesday. These are the first Russian owned vessels to be hit by U.S. sanctions on their insurance cover. Washington .
On 22 February 2022, the United States announced new sanctions on Russia, blocking the property of two major Russian banks, dozens of their subsidiaries, and five individuals, and.
US President Joe Biden has announced a new set of fiscal and economic sanctions against Russia that aims to cripple its economy and ability to manage sovereign debt.