Russian oil cargo discharge at an Indian port has been delayed due to insurance scrutiny, according to industry sources. The Aframax vessel Tiger 6, sanctioned by the EU and UK, was scheduled to offload ESPO grade oil on November 23 but was still floating near Paradip port on Wednesday afternoon, indicating a hold-up. This delay suggests heightened security measures at Indian ports. Since April, India has mandated online verification of insurance for ships not covered by the International Group (IG) to prevent forged documents from being presented to port authorities. Many shadow fleet ships, often used to transport Russian oil, are insured by non-IG companies. Russia's Soglasie Insurance Co. Ltd. provided coverage for the vessel carrying oil to Indian Oil Corp., which sources confirm was supplied by a non-sanctioned entity. Despite this, India recognizes P&I cover from 19 non-IG insurers, including eight from Russia, allowing the country to continue purchasing discounted Russian oil. The story highlights the complex insurance regulations and the ongoing impact of Western sanctions on Russian oil trade.
