A group of Western insurers said the Russian oil price cap has become unworkable and has only encouraged more ships to join the shadow fleet, according to Reuters. The international P&I group said that the price cap has not had much success since its introduction two years ago, as Russia has switched to its fleet, as well as to tankers that are outside the control of the West. The statement was presented as written evidence at a hearing in the UK Parliament. The group says it comprises 12 third-party marine liability insurance companies that cover 87% of the world’s ocean tonnage. “The oil pri…