India expands Russian marine insurance options

Monday 20 April 2026 - 07:30

India has broadened its list of approved Russian marine insurers, allowing more companies to provide coverage for vessels calling at its ports. The move reflects New Delhi’s effort to maintain stable maritime operations while adapting to evolving geopolitical and energy market conditions.

According to official maritime authorities, the number of eligible Russian insurers has increased, enabling additional firms to offer protection and indemnity (P&I) coverage for ships, particularly oil tankers. Several companies have received extended authorization periods, ensuring continuity of insurance services for vessels engaged in trade with India.

This decision comes at a time when India continues to rely heavily on imported energy resources. As one of the world’s largest oil consumers, the country has increasingly turned to Russian crude to meet its domestic demand. Global tensions and disruptions in key shipping routes have reinforced the importance of maintaining reliable maritime logistics and insurance frameworks.

Marine insurance plays a critical role in international shipping, especially for oil cargoes, which carry significant environmental and financial risks. Adequate coverage ensures that shipowners are protected against liabilities such as accidents, pollution, or cargo damage. Without such insurance, vessels may face restrictions when entering ports or conducting trade.

Western insurers have largely reduced their involvement in covering Russian oil shipments due to international sanctions. As a result, Russian insurance providers have stepped in to fill the gap, offering services primarily to ships transporting Russian energy exports. However, many of these firms operate outside the traditional global insurance system, including the well-established P&I clubs that cover most of the world’s tanker fleet.

In parallel, India has also authorized a Dubai-based insurer to provide marine coverage, highlighting its diversified approach to securing shipping services. Authorities have granted long-term recognition to several insurance providers, signaling a strategy aimed at ensuring stability in maritime trade over the coming years.

By expanding its pool of recognized insurers, India is reinforcing its energy security while navigating a complex international landscape shaped by sanctions, regional conflicts, and shifting trade dynamics.