Europe: How did the Western Sanctions affect the Russian insurance market?
At the end of January the Council of the European Union agreed to extend existing sanctions against Russia. This move comes a year on from the introduction of the first set of sanctions, and now we can estimate its impact on the Russian insurance market.
Motor Insurance
This troubled part of the country's insurance market suffered most under the sanctions. Although they don't effect this sphere directly, the rouble's dramatic decline, caused by both
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