"The approach of governments towards Sovcomflot has been somewhat confused and different between jurisdictions and has left people to trying to work out what they are doing," said an insurance industry source with knowledge of the situation.
"The (UK's) decision this morning to impose an asset freeze means it is going to be very difficult for UK based insurance companies or reinsurers. No contract can function on the basis of an asset freeze."
A DNV spokesperson said on Thursday that it was "still in the process of winding down all business with Russian entities and that Sovcomflot is part of this process".
A spokesperson for LR said separately that it was "continuing to disengage from the provision of all services to Russian owned, controlled or managed assets or companies".
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