India Grants One-Month Extension To Russian Marine Insurers

The Indian government has approved a one-month extension for Russian marine insurers, allowing them to continue providing coverage for vessels transporting oil and other goods amid ongoing geopolitical tensions. This decision comes at a time when India's crude oil imports from Russia have decreased, with a noticeable shift towards sourcing oil from countries like Saudi Arabia. Despite the decline in imports from Russia, they have not ceased entirely, highlighting India's complex balancing act in navigating its energy needs while responding to international pressures. The extension is expected to provide temporary relief to shipping companies involved in trade with Russia, ensuring that maritime insurance coverage remains uninterrupted. This move underlines India's strategic approach in maintaining its energy security while managing its diplomatic relations with Western countries concerned about Russia's actions in Ukraine.