by AIP Online Bureau | Feb 12, 2025 | Eco/Invest/Demography, Indian News, Non-Life, Policy, Reinsurance
“Imports need ships which are not sanctioned, insurance which takes time to reconfigure, and imports will need payments to go through. So each one of these has problems that need to be solved. People are working on solving these problems,” Oil Secretary Pankaj Jain...
by AIP Online Bureau | Jan 24, 2025 | Eco/Invest/Demography, Indian News, Non-Life, Reinsurance, Risk Management
India’s oil secretary Pankaj Jain said the deadline, as outlined by the US sanctions, for completing financial transactions was March 12. India follows United Nations sanctions, rather than those imposed by individual countries, but fears of secondary sanctions...
by AIP Online Bureau | Jan 22, 2025 | Eco/Invest/Demography, Indian News, Non-Life, Reinsurance, Risk Management
As well as extending approvals for some sanctioned providers, India’s Directorate General of Shipping authorized Soglasie Insurance Co. to provide insurance for vessels entering Indian ports until February 2026, according to to the regulator’s website. As Soglasie...
by AIP Online Bureau | Jan 13, 2025 | Eco/Invest/Demography, Indian News, Non-Life, Policy, Regulation, Reinsurance, Risk Management
A senior Indian bureaucrat told reporters that sanctioned vessels won’t be allowed to discharge. That excludes ships chartered before Jan. 10, provided they unload by March 12. Indian banks will demand certificates of origin to ensure crude doesn’t come from...
by AIP Online Bureau | Jan 12, 2025 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
Sanctions on Russian oil insurers will prompt Russia to price its crude below $60 a barrel so Moscow can continue to use Western insurance and tankers Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and...
