Russia Moves to Establish State Insurance Firm for Arctic Oil Shipments ...Middle East

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Russia Moves to Establish State Insurance Firm for Arctic Oil Shipments
source : OILPRICE ( Middle East ) () 66
Russia is preparing to launch a state-backed insurance company to cover oil and commodity exports along the Northern Sea Route, as Western sanctions continue to isolate its shipping and reinsurance sectors. The initiative, confirmed by several Russian media outlets including Izvestia and Neftegaz, is being developed with support from the Ministry of Finance and the Bank of Russia. According to Energy Intelligence, the planned insurer would underwrite vessels transporting crude, LNG and other raw materials through the Arctic corridor to Asia, providing…

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