iran international insurance Archives

International insurance company formed by Iran for oil tanker coverage

December 28, 2012April 30, 2013

The country has launched the new coverage as its latest step to overcome Western sanctions. The European Union and the United States had placed sanctions against Iranian oil, including bans on coverage of oil tankers carrying crude from the country, but the nation is now expanding the protection that it is offering for these ships through the launch of its own international insurance company. This insurer will be providing coverage for the tankers that transport Iran crude worldwide. Rostam Qassemi, the Iranian Oil Minister, explained that the creation of its…

International insurance news from Iran includes update on sanctions impact

December 27, 2012December 27, 2012 Julie Campbell

The Middle Eastern country is indicating that the worst outcomes of the bans have now passed. The latest international insurance news out of Iran has shown that the sanctions that have been placed on the country’s shipping and energy sectors by Western nations, and which had been causing significant struggles for its oil industry earlier in the year, are not having the impact they had earlier in the year. The Iranian Oil Minister, Rostam Qasemi, explained that the country has all but overcome the impact. Although it is standard procedure…