Insurance Cover Category for Indian Exports to Russia Are Modified by Government

Export Credit Guarantee Corporation (ECGC) said on Monday that that it has altered the insurance cover category for Indian exports to Russia, under which revolving limits are endorsed on a case-to-case basis, amid the ongoing conflict between that country and Ukraine.

The corporation said in a articulation that “based on the near-term commercial outlook, it has been chosen to change the country-risk classification of Russia under the short-term and medium and long-term with effect from February 25”.

Modifying its underwriting policy on Russia, ECGC has now placed that country in Restricted Cover Category (RCC-I) from the prior ‘Open Cover’ category.


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