EU ban on insurance for Russian oil vessels is 'big blow' to Moscow

The European Union's announcement of its sixth package of sanctions, including a partial ban on Russian oil imports, was hugely significant. Foreign policy chief Josep Borrell called it "a big blow to (Vladimir) Putin's war chest." But while EU officials are celebrating a win, some analysts warn of the wider economic consequences of clamping down on an industry critical to international trade. "The restrictions on the insurance are very specific, as it's a distinct market, maritime insurance," Nikolaos Farantouris, Professor of Law at the University of Piraeus, told CGTN. For more: https://www.cgtn.com/europe Social Media Twitter:   / cgtneurope   Facebook:   / cgtneuropeofficial   Instagram:   / cgtneurope   YouTube:    / cgtneurope   Flipboard: https://flipboard.com/@CGTNEurope Feedly: https://feedly.com/i/subscription/fee... OTT iPhone: https://apps.apple.com/us/app/id14668... Apple TV: https://www.cgtnnow.com/help/using-th... Android: https://play.google.com/store/apps/de... Android TV: https://play.google.com/store/apps/de... Roku: https://channelstore.roku.com/en-gb/d... Fire TV: https://www.amazon.com/gp/product/B07... Our Shows RAZOR:    / @razorscience   Podcasts: https://www.cgtn.com/special/CGTN-EUR... #CGTN #CGTNLIVE #CHINANEWS #EuropeNews