Russia may allow its insurance companies to enter into contracts with insurers, re-insurers, and insurance brokers from so-called “hostile” countries for the purpose of food and mineral fertilizer exports, Bloomberg reported on Oct. 13, citing Interfax, which cited amendments submitted to Russia’s parliament.
The country’s State Duma in March passed a law to ban Russian insurance companies from dealing with counterparties from “hostile” countries or controlled by entities of “hostile” countries.