Adeyemo Says Money Russia Is Spending On Reinsurance For Tankers To Ship Its Oil Is Money It Cannot Invest In Tanks In Weapons For Its War On Ukraine; U.S. Does Not See Widespread Signs Of Evasion But Know Russia Is Seeking Ways To Evade The Price Cap
Portfolio Pulse from Benzinga Newsdesk
Adeyemo states that Russia's spending on reinsurance for tankers to ship its oil is diverting funds from investing in tanks and weapons for its war on Ukraine. The U.S. does not see widespread signs of evasion but knows Russia is seeking ways to evade the price cap.
June 15, 2023 | 6:45 pm
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NEUTRAL IMPACT
Russia's spending on reinsurance for oil tankers may impact global markets, potentially affecting the SPY ETF.
While the news is focused on Russia's spending on reinsurance for oil tankers, it may have indirect effects on global markets, which could impact the SPY ETF. However, the direct connection is not strong, and the impact may be limited.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Russia's spending on reinsurance for oil tankers and attempts to evade the price cap may impact the USO ETF, which tracks the performance of oil.
The news directly relates to Russia's oil shipping and potential price cap evasion, which could impact the oil market and, in turn, affect the USO ETF. However, the extent of the impact is uncertain, and it may not have a significant short-term effect.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEUTRAL IMPACT
Russia's spending on reinsurance for oil tankers may have indirect effects on European markets, potentially impacting the VGK ETF.
The news about Russia's spending on reinsurance for oil tankers may have indirect effects on European markets, which could impact the VGK ETF. However, the direct connection is not strong, and the impact may be limited.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50