The insurers' decision is prompted by reinsurance companies refusing to take on risks related to the war that Moscow launched 10 months ago.
TOKYO, Japan – Three Japanese insurance companies will stop insuring ships for damage in all Russian waters due to the war in Ukraine, potentially affecting Japan’s energy imports including liquefied natural gas , the Nikkei newspaper said on Saturday, December 24.
Japan’s LNG imports from Russia’s Sakhalin-2 gas and oil project could be affected, the Nikkei said. The Sakhalin Island complex, partly owned by Gazprom GAZP.MM and Japanese companies, is vital to Japan’s energy security as it accounts for 9% of the country’s LNG imports.
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