News is out that from January 1, 2009 European "green card" insurance is also accepted in Russia (if Russia is marked on it), so no separate Russian insurance is needed on that case.

Good news! Helpful to confirm:
Russia Joins Intl. Car Insurance System - Kommersant Moscow
Russia Joins Intl. Car Insurance System

Russia Can Be Admitted to Green Card Insurance System in 2009
Russia Can Be Admitted to Green Card Insurance System in 2009

"Council of Bureaux" (international administrator of Euro "Green Card")
Information on national bodies
now lists, as member of Green Card,
RUSSIAN ASSOCIATION OF MOTOR INSURERS27 bld. 3, Lusinovskaya str., 115093, Moscow, Russia
Secretariat - [7] (495) 771 69 47
Claims - [7] (495) 641 27 87green_card@autoins.ru


Of course, all the participating insurance agents/ national auto clubs, etc now have to be sure the actual printed "Green Card" document is changed to include "RU"; and the insurance companies still have to willingly include (not cross-out) Russia in the Green Card document they issue.

Good news - maybe.

Until now, it as been obligatory to have an Insurance Certificate issued by a Russian company. The cost of basic minimum insurance bought at a border is not high (bike - about GBP 20 for 2 months).

My real doubt is how long will the news take to trickle down to the average cash impoverished ДПС officer on the roadside - particularly in remoter areas and in more tense areas such as around Caucuses wannabe break-away states where you get stopped far more regularly.

Have a Green Card (which gives you full cover as at home) but for the small additional cost it might be easier and more convenient to have the bit of Russian paper they are used to, to show them and get on your way again.

Agree with Tony ... Treat with caution ... I have seen announced changes in the law in Russia take 2-3 years before they are accepted by the men on the ground charged with enforcing them.

You can have a green card endorsed for Russia, but dont think that doesnt mean the guy on the border wont let you in unless you buy russian "insurance" off his mate in the insurance booth. He is unlikely to want to lose his cut on it just yet.

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www.SibirskyExtreme.com
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www.Endless-Highway.info

Surprisingly enough the problem seems to be the UK end not the Russian end. My insurers directline have just told me they can't sell me a green card to cover Russia because of...[insert reason of your choice]. So my question is has anyone successfully bought such a green card covering "RUS" with "RUS" printed on it from a UK insurance company. Details please as I have been told that border insurance offices "have been closed" as a result... Naturally the Polish and Finnish insurance companies are probably all over this change but the Brits? Well...
I moderate on the waytorussia.net travel forum and this issue is beginning to surface. Any intel gratefully received.
Les