India, which is keen to maintain cheap Russian oil supplies, has taken another step to circumvent international sanctions. Amid increased pressure from the US and recent restrictions imposed on a number of Russian companies, New Delhi is expanding the list of Russian insurers allowed to provide services in the country. But at what cost?
The focus was on the decisions of the Indian shipping regulator, which issued multi-year licenses to a number of Russian insurance companies. Against the backdrop of a new wave of sanctions, this event deserves special attention. This is reported by RED AXE MEDIA
According to the Directorate General of Shipping of India documents, the licences have been extended for the following companies:
These companies provide insurance for tankers transporting Russian oil, which allows them to bypass sanctions.
India’s position is clear: New Delhi wants stable supplies of oil at a reduced price. Russia, which has found itself under severe sanctions, is actively offering raw materials at large discounts. India, in turn, is using this to its advantage, turning a blind eye to diplomatic pressure from the West.
However, behind this “good deal” there are obvious risks. Cooperation with Russian companies under sanctions could lead to economic and diplomatic complications for India itself.
Recent US sanctions have hit not only Russian oil companies but also insurance firms, including Alfa Insurance and Ingosstrakh . Washington says the measures are aimed at reducing Moscow’s oil revenues.
But instead of the expected pressure on Russia, the sanctions have encountered an unexpected obstacle: India continues to actively support Russian business, introducing its own rules of the game.
At first glance, such cooperation brings only benefits to New Delhi. But behind it there are many problems:
India’s move clearly demonstrates that geopolitics and economic interests intersect in the most unexpected places. Washington is trying to corner Moscow by imposing more and more sanctions, but New Delhi seems to prefer to protect its own interests, even if this draws criticism from the West.
