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 to resume covering shipments to India

iran oil international insurance news

This is the latest step taken in Asia to sidestep the EU sanctions on the coverage. India has now become the latest country in Asia to offer tankers Iran oil insurance through a government backed program in order to get around the sanctions against the coverage that have been put into place by the European Union and that have cut the exports from the Middle Eastern country nearly in half. Japan has already been providing its own shipment protection through its government. The very first ship to take part in…

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Insurance news for Iran oil shows Indian ship owners displeased with coverage

Iran Oil Insurance industry News

India’s top tanker companies have rejected its own government’s offer. The latest insurance news regarding Iranian oil has shown that the top ship owners in India have rejected an offer from their government to provide coverage for shipping crude from the Iran, saying that the protection being offered is inadequate. The tanker coverage was offered in an attempt to skirt the European Union’s sanctions. The refusal of these ship owners has meant that the refiners in India will need to use the coverage being offered from Tehran, as well as…

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Oil insurance sanctions in full force against Iran

oil insurance news

Tehran is now ready to dodge the problems that the lack of tanker coverage had caused. The oil insurance sanctions against Iran that have been put into place by the European Union had been putting a stop to a large number of the crude exports from that country starting on July 1, but it has now built a new effort to insure its own tankers to sidestep the coverage issues. Iran is preparing to work around the coverage obstacles. The country has set aside billions of dollars so that it…

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Iran oil insurance offered by Tehran to South Korea

iran international insurance news

Officials in the Middle Eastern nation are working to get around the EU bans. Iran oil insurance for tankers carrying crude from the country’s ports has been offered to South Korea, for accident coverage with a maximum of $1 billion. Iranian officials have made this effort to help skirt the coverage bans from the European Union. South Korea, through Hyundai Oilbank and SK Innovation, are currently considering this offer, say officials from both of those countries. These two businesses also have complete ownership over the other refiner in the country,…

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