China Not Recognizing Russian Shipowners' Insurance Documents - Russian Transport Ministry

MOSCOW (UrduPoint News / Sputnik - 29th November, 2022) Russian shipowners are facing situations where China refuses to recognize insurance documents issued by Russian insurers and the Russian National Reinsurance Company (RNRC), Russian Deputy Transport Minister Aleksandr Poshivai said on Tuesday.

"Russian shipowners are faced with refusals from the Chinese authorities and companies regarding the recognition of insurance documents for ships and cargoes issued by the above-mentioned insurance companies," Poshivai said at the Russian-Chinese energy business forum.

To develop bilateral cooperation, Russia would like to suggest that "Chinese side consider the possibility of recognizing certificates of companies that insure and reinsure maritime transportation of Russian energy carriers, as well as documents guaranteeing financial coverage of risks."