OREANDA-NEWS  An international group of insurers complained that the price restrictions on Russian oil imposed by the G7 countries actually led to an increase in the shadow market for maritime transportation.

The statement of the London-based international insurers club International Group of P&I Clubs was presented as a document at a parliamentary hearing in the UK on Tuesday.

According to insurers, the growth of shadow markets is a direct consequence of the introduction of the sanctions regime, which imposes strict obligations to comply with its requirements on organizations operating within the framework of the G7, while at the same time providing freedom to act lawfully outside this framework.

"Thus, limiting oil prices is becoming increasingly impracticable as more and more ships and related services are involved in this shadow trade," said a statement posted on the website of the British Parliament.

According to the International Group of P&I Clubs, about 800 tankers have already left this international club due to restrictions on the price of Russian oil.

The international group of P&I Clubs includes 12 insurers providing insurance for approximately 87% of the world's ocean tonnage.