Despite the fact that the sanctions against Iran have been lifted, the country will be keeping its sovereign coverage. Now that the sanctions against Iran are being lifted, it means that there will be considerably greater oil insurance offerings available to countries that want to purchase their crude from Tehran, but Japan has decided that it will be maintaining its own sovereign coverage. The current situation in the industry is improving the uncertainty with regards to being able to obtain coverage. With the lifted sanctions, oil insurance protection will, once…
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When oil insurance becomes available again, Iran will sell more crude
The country intends to begin boosting its shipment to awaiting customers once the sanctions are lifted. Refiners in Asia are now gearing up to purchase more crude from Iran once word has been confirmed that the sanctions have been lifted and oil insurance can once again be purchased internationally for tankers and refineries carrying and processing crude from the country. Tehran is now working hard to attempt to compete and rebuild its market share within an oversupplied marketplace. When the deal was finally reached among world leaders, last Tuesday, following…
Read MoreOil insurance sanctions from EU to ease against Iran next week
Pending the go-ahead from the U.N nuclear watchdog changes will go into effect on January 20. The governments in the European Union are planning to implement relief to the EU oil insurance and other sanctions that were placed against Iran, on January 20, the day after a nuclear agreement goes into effect. This will mean that the Middle Eastern country will be able to find coverage for its crude exports. Following an accord from November 24, the E.U. will be implementing a six month suspension of the current bans on…
Read MoreOil insurance to resume per new deal with Iran
Sanctions against Iran relaxed Oil shipments to countries throughout Asia have been suffering due to sanctions imposed against Iran by the European Union and the United States. These sanctions have barred European insurance companies from providing coverage to freighters that are shipping oil coming from Iran. The sanctions have had a significant economic impact on Iran, as the country’s oil sales have plummeted by more than half since 2011. Now, the EU has announced that it will be relaxing its sanctions on the country due to a new deal. Sanctions…
Read MoreIran oil insurance sanctions may soon be eased
The recent nuclear deal could cause the sale of crude to rise considerably in the country. Now that a nuclear deal has been reached, it is believed that the Iran oil insurance sanctions may soon be eased, assuming that the country will indeed uphold its end of the agreement. This will mean that big buyers of crude, such as India and China, will be able to boost their imports. One of the elements of the agreement that was reached on Sunday between Tehran and six world powers was that the…
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