Insurance news from Iran shows oil tankers are bypassing embargoes

oil Insurance News

Iranian vessels are now easily skirting around the E.U. sanctions. Though the sanctions from the E.U. against Iranian oil tanker coverage had been making insurance news with their efficacy when they were first set into place in July, the Middle Eastern country has since shown that it is no longer struggling with those bans. The coverage embargoes are no longer in the way of Iran’s crude shipments. According to the Central Insurance of the Islamic Republic of Iran’s deputy head for planning and development, Rahim Mosaddeq, “Most of the sanctions…

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Iran oil insurance sanctions may not stop the country’s exports

oil insurance news

Tehran has discovered a number of ways to work around the embargo. Tehran has now developed several different ways to reduce the impact of the Iran oil insurance embargo on tankers shipping crude from that country. The Middle Eastern nation has been working hard to decrease the impact of the E.U. sanctions. The European Union, as well as the United States, have made several efforts in order to significantly limit the ability for crude to be exported, by holding an embargo on the shipments as well as banning Iran oil…

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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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