India from Russia (Russia) is buying a lot of oil. However, India is expected to take a key decision regarding ships that bring oil and other goods.
It is thought to have its own insurance company for these ships so that it can protect the ships from accidents like crashes or leaks.
A senior official said this, but did not want to name him. India is still thinking about this idea.
Not sure if it will work or not. Hope to complete the idea in two to three months.
Then it has a plan. Talking to banks, money companies, other insurance companies about this project.
to India due to some issues Own insurance company Necessary. America has put some conditions on Russia.Russian oil These rules say that India can buy only if it is cheap. It also has to show proof of its price. If India does not follow these rules, it does not get good insurance from the West. But if it follows these rules, it may not get enough oil.
So India It is in a difficult situation.UkraineIndia started buying more oil from Russia after the war in Ukraine.
Due to the war, Europe has stopped buying oil from Russia. China is also buying oil from Russia.
Insurance Company of India India’s finance minister said in October that India needed its own insurance company to have more control over shipping, to be less affected by US regulations.
At present, India depends on the international market for insurance. Most of the insurance comes from a group of 12 clubs in London. They cover almost all ships in the world.