India Expands Russian Insurance Access Amid Hormuz Shipping Crisis

India is diversifying its maritime insurance framework to ensure the continued flow of energy imports amidst escalating geopolitical tensions in the Middle East. The Directorate General of Shipping has expanded the list of authorized Russian insurers permitted to provide cover for vessels calling at Indian ports. This regulatory adjustment is a direct response to the closure of the Strait of Hormuz, a critical global chokepoint for oil and gas shipments originating from the Persian Gulf. The disruption has forced India to seek alternative insurance arrangements to keep its energy supply chains operational. According to official listings from the Directorate General of Shipping, the number of Russian insurers not affiliated with traditional P&I Clubs now authorized to provide services has risen to 11, an increase from eight firms listed last month. By easing these insurance restrictions, India aims to maintain energy security and facilitate alternative shipping routes as traditional Gulf corridors become inaccessible. This shift underscores a growing strategic reliance on non-Western financial and insurance infrastructure to bypass wartime disruptions and ensure the stability of domestic fuel supplies.