The move, disclosed last week by India’s Directorate General of Shipping, adds Gazprom Insurance, Rosgosstrakh Insurance and Balance Insurance to a roster that already includes some of Russia’s largest state-linked insurers. The South Asian nation is now the world’s top buyer of Russian crude, and it is leaning more heavily on flows from Moscow as the war between the United States, Israel and Iran chokes cargoes through Hormuz, a waterway that remains at near-total halt, with the conflict now in its eighth week.
