India has allowed Russian insurer Soglasie Insurance Company to provide marine cover to tankers entering Indian ports, according to Indian ship regulator's website, as New Delhi wants steady supply of cheaper Russian oil despite latest U.

Crude oil purchases by Indian Oil Corp. may shift as the new US sanctions on Russia affect supplies from Moscow, pushing the South Asian country’s biggest refiner to seek alternatives.

Directorate General of Shipping authorized Soglasie Insurance Co. to provide insurance for vessels entering Indian ports until February 2026

Middlemen supplying Russian oil are not offering cargoes due to new U.S. sanctions targeting Russian producers, tankers and insurers, according to the finance chief at Indian refiner Bharat Petroleum.

Oil refiners in India are reaching for all available options in the rush to make up for Russian flows hit by Washington’s latest round of sanctions, turning to the spot market while simultaneously seeking more long-term supplies from Middle Eastern producers.

Indian banks has begun blocking payments for Russian oil imports following the latest round of U.S. sanctions against Russia's oil industry, according to a report from Energy Intelligence, an energy information company.