Russia has managed to finance and insure the maritime transportation of oil, Russian Energy Minister Nikolay Shulginov said on Thursday at a meeting on the sidelines of the Russia-Africa Summit.

St. Petersburg, Russia.- “The necessary financial and insurance component for maritime transportation is fully secured, and Moscow is discussing establishing a new insurance company with friendly countries,” the minister said shortly before participating in the debates at the St. Petersburg event.

According to Shulginov, Russia is building an independent export system to redirect supplies and forms of transportation, logistics, and financial infrastructure.

“We are actively working on these issues with partners from friendly countries. We have optimized the port of Kozmino and the access to it for exports, increasing the Eastern Siberia-Pacific Ocean pipeline’s capacity to seven million tons of oil,” he added.

We are developing port and railway infrastructures for deliveries to the West,” Shulginov said. (PL)