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Sovcomflot has found new insurance for its fleet

Russian Sovcomflot has found a new marine insurance company to cover its fleet after the sanctioned tanker carrier was abandoned by Western insurance companies, writes Reuters.

Igor Tonkovidov, CEO of Sovcomflot, has found a new insurance company to cover the carrier's fleet. | Photo: Sovcomflot

Sanctioned Russian tanker operator Sovcomflot, which has the Russian state as majority shareholder, has found a new insurance company to cover the carrier’s fleet.

Sovcomflot’s chief executive confirms the matter to Reuters, and it occurs after Western marine insurance companies such as Gard and Skuld previously have terminated coverage of the carrier’s fleet due to Western sanctions targeting Sovcomflot in relation to Russia’s invasion of Ukraine.

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