Non-sanctioned Russian insurers increasingly cover Baltic transits
- Moscow‑based Balance Insurance has seen the fastest growth among Russian insurers to the shadow fleet, with reported transits rising 160% since February
- Sanctioned Russian insurer Soglasie remains the dominant provider for the shadow fleet, with its reported Baltic coverage up nearly 40% even after EU blacklisting
- EU states are pushing for tougher, coordinated action against the shadow fleet ‘ecosystem’, including insurers, as the bloc prepares its 21st sanctions package
Around one third of tankers transiting the Baltic now declare insurance from Russian or Russia‑affiliated providers, as shadow fleet operators shift away from Western cover, but it is a non-sanctioned Russian insurer that has been growing the fastest
