Oil insurance allows South Korea to prepare for its second Iranian shipment

oil insurance news

SK Energy has already loaded another cargo of crude from Iran. The largest refiner in South Korea, SK Energy, is taking advantage of the relatively newly available oil insurance to load its second crude cargo from Iran, skirting the coverage ban from the European Union that brought the shipments to a standstill for nearly two months. Two million barrels are being shipped in this second run, while avoiding the sanctions. The oil insurance was provided by Iran, itself, making it possible to step around the problems that had previously halted…

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