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  • It would cover ~200 (newish) Suezmax tankers based on a quick calc. Whether they could actually disburse those sums for that purpose without some legal challenges as to DFC's authorizations, IDK. I haven't found any commentary that says they couldn't (for now) though. Commented Mar 7 at 2:33
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    Lloyd’s Market Association found it worthwhile to comment that “it is important to note that the vast majority of these vessels are insured in the London market and for those vessels, insurance currently remains in place”. Anyhow, it seems that unsanctioning (some) Russian oil, which Bessent has done, has had a quicker effect than this talk of reinsurance, with details still being worked out. lloydslist.com/LL1156549/… Commented Mar 7 at 12:17
  • Regardless of how well the ships are insured, it is unlikely that anyone involved would want to deal with the negative publicity of a dead crew and an oil spill. Commented Mar 12 at 20:47
  • @JoeW Probably true, but "desperate times call for desperate measures". Commented Mar 13 at 16:04
  • @Barmar It is hard to use increased gas prices as a justification for those events. Commented Mar 13 at 16:48