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Lloyd’s of London, the world’s oldest insurance market, said on Wednesday that it was working closely with British and international governments and regulators to implement global sanctions against Russia.

“Lloyd’s supports and remains focused on the delivery of a global sanctions regime against the Russian state,” Lloyd’s said.

The Financial Times late on Tuesday that Britain and the European Union had agreed a coordinated ban on insuring ships carrying Russian oil to shut Moscow out of the Lloyd’s insurance market.

(Reporting by Muvija M; editing by Michael Holden)

Photograph: Arctic shuttle tanker Shturman Albanov. Photo credit: Sovcomflot

Topics Excess Surplus Russia Lloyd's