Is there some reason why no entity in Russia, or some country friendly to Russia, can provide insurance?

Really, there is a hole in maritime law exploited. According to the law, any port obliged to service any vessel under flag of some state if it is inshured by a company registered in that state with funds above some level and backed by that state. So, there was created insurance company with necessary sum and officially backed by RF government. Now, no port could deny a Russian vessel insured by that company. Also, no Russian vessels need any Lloyd's or any other western insurance anymore. That simple.

Funny, many countries get that trick to the mind. There was some hours of hystery and whining at Lloyd's and other "trusted" insurers, but then they suddenly go silent, looks like they turned to creating conspiracy for changing maritime law to close that "unfair" hole in it.

PS: Guess why MSM do not tell how exactly Russia fucked that stupid western insurance sanctions and pretend to be puzzled how we still able to use our fleet for import and export. :)

Is there some reason why no entity in Russia, or some country friendly to Russia, can provide insurance?

Really, there is a hole in maritime law exploited. According to the law, any port obliged to service any vessel under flag of some state if it is inshured by a company registered in that state with funds above some level and backed by that state. So, there was created insurance company with necessary sum and officially backed by RF government. Now, no port could deny a Russian vessel insured by that company. Also, no Russian vessels need any Lloyd's or any other western insurance anymore. That simple.

Funny, many countries get that trick to the mind. There was some hours of hystery and whining at Lloyd's and other "trusted" insurers, but then they suddenly go silent, looks like they turned to creating conspiracy for changing maritime law to close that "unfair" hole in it.