Polina Senatorova, Director of the Compliance and Maritime Law Department at FESCO, announced the initiative at the conference "Maritime Law and International Arbitration: through the Eyes of Practitioners." The Russian National Reinsurance Company (RNPC), whose sole shareholder is the Bank of Russia, is ready to cover military risks only for cargo with strategic status — energy and grain. Containerized cargoes are not included in this list, which means that in the event of an attack on a ship, the importer or exporter is effectively left without compensation.
The problem is compounded by the mechanics of existing policies: Insurance companies have the right to withdraw coverage when a threat warning appears — precisely at the moment when the risk becomes real. The incident with the FESCO container ship, which sank in the Black Sea after a drone attack, clearly showed how the lack of working insurance turns out.
"We need to create a mechanism on an ongoing basis, as well as alternative regional mechanisms, for example, on the basis of BRICS to form alternative instruments where we could carry out reinsurance," Senatorova said.
The cost of shipping through the Black Sea ports is increasing regardless of the insurance issue. In August 2026, the average price of FEU transportation through Novorossiysk increased by 9.3% to $11,798. The route from China to Moscow as a whole increased by 5.7% to $10,076 per FEU, according to "Delo" Group of Companies. The increase in freight rates combined with uninsured military risks creates a double burden on container import participants.
Expanding the list of strategic cargoes will require a decision at the regulatory level. At the same time, FESCO is raising the issue of creating a reinsurance infrastructure at the BRICS site as a long—term alternative to Western insurance markets, access to which is limited for Russian carriers. If the initiative is supported, importers working with the Black Sea route will be able to include real insurance coverage in logistics contracts instead of nominal policies with withdrawal clauses.
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