India has recently approved three more Russian insurers to offer marine insurance coverage for vessels entering Indian ports.
According to a recent government notification, the three newly approved insurers include Sberbank Insurance, which is a unit of Russia’s largest lender Sberbank, along with Ugoria Insurance Group and ASTK Insurance Company.
These companies can now provide protection and indemnity (P&I) cover to ships, and their approval is valid until February 20, 2026.
With this decision, India now officially recognises eight Russian insurers that are eligible to provide marine insurance for vessels operating in Indian waters. The approval helps Russia maintain its oil exports to India, which remains its second-largest buyer of seaborne oil after China.
Last month, Reuters reported that these three Russian insurers had submitted requests to the Indian shipping regulator for approval to offer P&I services.
The confirmation now allows them to operate in India, offering a workaround for Russian oil
Content Original Link:
" target="_blank">
