E.U. Iran oil insurance sanctions slash country’s exports almost by half

Insurance rates increase for offshore accounts

The daily shipments of crude for July could be nearly fifty percent lower than the average in 2011. Due to the Iran oil insurance sanctions by the European Union and those made by the United States, it looks as though the daily crude experts from that country could drop below the halfway mark when compared to 2011’s average in that month. Two of the top buyers of Tehran’s crude, South Korea and Japan, have already ceased all of their imports in July as a result of the sanctions that were…

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