India expands support for Russian insurers, securing cheaper oil imports amid US sanctions.

India has expanded its support for Russian insurers, allowing them to provide insurance for vessels carrying oil to Indian ports. This move helps India continue importing discounted oil from Russia despite recent US sanctions. The approvals include a 5-year extension for several Russian insurers and new permission for Soglasie Insurance Co., ensuring a stable supply of cheaper Russian oil.

2 months ago
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