Latest insurance news for Iranian oil tankers

June 12, 2012April 30, 2013

Coverage bans show that Japan is in and India is out The insurance news regarding the European Union’s ban on coverage for Iranian oil tankers has just experienced another update, as Japan has approved their own policies, while India has announced that they are aligning with the EU’s decisions. The Cabinet in Japan has just approved a bill to offer sovereign coverage to tanker operators importing crude from Iran. Operators that import Iranian oil before the sanctions from the European Union against this nation go into full effect will now…

Latest insurance news from Japan says it may provide Iranian oil import coverage

May 24, 2012May 24, 2012 H. Cutner

The Japanese government has announced that it may offer policies for tankers from Iran. The government of Japan has released an insurance news statement in which it announced that it may offer policies for tankers from Iran that bring in oil, and that they will go into effect in July when the European coverage ban takes effect. The EU has been lobbied by Japan for exemption status on the coverage and reinsurance ban. The ban was an element of the Western sanctions geared at decreasing the revenues of oil in…