India’s Directorate General of Shipping granted a one-month interim extension on February 20, 2026, to four Russian marine insurers, averting disruptions for vessels entering its ports.
Soglasie Insurance Company Ltd., Ugoria Group of Insurance Companies, Sberbank Insurance, and ASTK Insurance LLC can now provide protection and indemnity (P&I) cover until March 20, 2026, pending full approvals. This supplements eight other approved Russian entities, like Alfastrakhovanie and Sogaz, valid through 2029-2030.
The relief ensures smooth operations for Russian oil tankers and bulk carriers amid India’s crude imports, balancing US trade deal pressures with supply chain stability. Marine insurance is vital for high-risk energy shipments, excluded from Western P&I clubs due to sanctions.
The time-bound measure addresses stakeholder concerns while assessing compliance with sanctions and safety standards, supporting maritime trade resilience. India now curbs Russian oil volumes strategically.
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