Oil on a pumpjack in Russia. Photographer: Andrey Rudakov/Bloomberg In the first quarter, much of the oil that was sold above $60 was transported using services from firms in G-7 countries, according to a team of researchers who analyzed trade and shipping data. That would suggest widespread breaches of the rules, they said. (Credit: Andrey Rudakov/Bloomberg)

(Bloomberg) — Key figures in the insurance industry said rising Russian oil prices are making it harder for them to know if they can lawfully cover Russian cargoes.

Since December, buyers of Russian crude oil have only been allowed to access financial services from Group-of-Seven nations if the cargoes were sold at $60 a barrel or less. Part of that process involves entities like insurers getting attestations pledging the oil was bought below the cap.

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