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Search resuls for: "John Berrigan"


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Russia has increasingly had to turn to a so-called "ghost fleet" of aging tankers to ship oil and avoid the cap. Panama, the Republic of the Marshall Islands, and Liberia have allowed some of those ships to carry their flags, according to Lloyd's List Intelligence and oil analysts. Lloyd's List Intelligence has said nearly 40% of the about 535 dark-fleet tankers have registered ownership via companies incorporated in the Marshall Islands. It also seeks to give leverage to countries buying oil outside the price-cap coalition to get discounted oil from Russia. The group is asking Liberia and the Marshall Islands to increase awareness among those in the trade that its flag should not be used for tankers transporting oil priced above the cap.
Persons: Dado Ruvic, Lindsey Whyte, John Berrigan, Brian Nelson, Timothy Gardner, Simon Webb, Rosalba O'Brien Organizations: REUTERS, Rights, Marshall, Intelligence, Britain's Treasury, U.S . Treasury, Reuters, EU, Thomson Locations: WASHINGTON, U.S, Liberia, Marshall Islands, Panama, Moscow, Ukraine, Russia, China, India, Republic, Marshall, Washington, British
LONDON, March 22 (Reuters) - The European Union's executive said on Wednesday that upcoming plans to bolster retail investor protections will be "ambitious", but any ban on banks offering commission in return for business from financial advisers has yet to be decided. The European Commission in the coming weeks is due to propose its "retail investment strategy" to deepen its capital market, a step made more urgent by Britain's exit from the bloc. His boss, EU financial services commissioner Mairead McGuinness, has suggested that inducements or commission offered by banks to financial advisers who send business their way should be banned to end a conflict of interest and cut fees. Industry officials talk of the idea of a ban being dropped or introducing over many years. Any follow-up legislative proposal would be for the new commission from late 2024, he added.
LONDON, March 9 (Reuters) - The European Union's financial watchdogs will test the financial sector's resilience to shocks that could derail the bloc's push to meet a 2030 deadline for slashing carbon emission. This will need extra investments totalling 350 billion euros ($370 billion) a year over this decade, not all sourced from the public sector, meaning a stable financial system will be needed for raising funds. "As part of this work, we would also appreciate any insights into the financial system’s capacity to support green investments under stress." Any "policy relevant" conclusions should be provided to the commission no later than the first quarter of 2025, Berrigan said. "Results should be as differentiated (notably by countries, types of financial institutions, economic sectors) as possible," he said.
LONDON, Dec 1 (Reuters) - European Union officials and regulators on Thursday played down the need for radical intervention in gas markets after prices rocketed this year in the wake of Russia's invasion of Ukraine. Gas prices rose so high and fast that governments had to help energy firms meet higher collateral calls on their derivatives contracts, prompting some calls for change. The EU has proposed to capping gas prices, but only if they hit certain levels over many days. Hanzo van Beusekom, executive board member at AFM, the Dutch body which regulates the gas derivatives market, said prices will only fall when the supply of alternative gas increases and demand eases. Next week, the European Commission -- the EU's executive -- could propose that clearing houses hold a separate default fund for commodity derivatives.
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