comment: >
  
  "Comes into force on Feb. 1, 2023". That's... optimistic planning horizon. Accidents happen.
context: None of the countries that imposed the cap buy Russian oil though. Wait why am I expecting anything Russia does to make any sense >
  
  On paper they don't but there are a huge number of off shore ship to ship transfers of oil happening these days which allow circumventing of the rules. >
  
  The insurance issue is going to bjork that up royally in January. Ships holding Russian crude will basically be barred from having the required insurance needed to dock in any major western port.
  Also, ship to ship transfers are high risk when in port. Doing them on the high seas off the coast of Portugal is a disaster waiting to happen. You could see said countries militaries seizing those vessels WHEN this happens. >
  
  Don’t that just have to switch insurers to someone who doesn’t give a shit Ie India >
  
  There aren’t many non-Western insurers, and for those that exist their insurance is often not considered sufficient/creditworthy by western ports where these ships could dock. >
  
  India just hit the news because they were considering doing this