Russia is seeking to increase acceptance of its own cargo insurance services to boost oil exports following Western sanctions.
Deputy transport minister Alexander Poshivay told a China-Russia energy conference in Moscow on Tuesday that the lack of insurance usually provided by European and US companies is being tackled through “intergovernmental agreements”.
Russia has had to deal with non-recognition of certificates issued by Russian insurers and the Russian National Reinsurance Co because Lloyd’s syndicates have declared Russian waters a war-risk zone.
