India has expanded the pool of Russian insurers eligible to provide marine insurance for ships docking at its ports, increasing the number to 11, the country’s Directorate General of Shipping said, according to Reuters.
The move supports continued imports of Russian crude by India, the world’s third‑largest oil importer, as Western sanctions have limited access to traditional European insurers for Russian cargoes.
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The expansion comes as the Trump administration renewed a temporary waiver allowing the purchase of Russian oil and petroleum products at sea for about one month, amid disruptions to global energy flows caused by the US–Israeli war on Iran, which has kept the Strait of Hormuz closed.
The license, issued late on April 17, permits countries to purchase Russian oil loaded on vessels through May 16, renewing an earlier waiver that expired on April 11.
India has approved Gazprom Insurance and Rosgosstrakh Insurance to provide protection and indemnity (P&I) coverage until Feb. 19, 2027, while Balance Insurance is cleared to operate until Aug. 19, 2026.
Registrations for Soglasie Insurance, Sberbank Insurance, Ugoria Insurance Group, and ASTK Insurance were extended until Feb. 20, 2027, Reuters reported.
India has also allowed Dubai‑based Islamic Protection & Indemnity Club to provide marine cover through Feb. 19, 2027.
In addition, India recognized VSK Insurance, Sogaz Insurance, and Alfastrakhovanie until Feb. 20, 2030, and Ingosstrakh Insurance until Feb. 20, 2029, to provide P&I coverage.
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