EU makes insurance news by forcing South Korea to cease imports of Iranian oil

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Suspension will continue from July onward throughout European Union coverage ban on tankers. South Korea has announced its latest insurance news, stating that it will be suspending its imports of crude beginning in July 2012, following a ban on coverage of the vessels that transport it, by the European Union. The announcement was made in press release by the South Korean Ministry of Knowledge Economy. In it, it claimed that it has ceased its Iranian oil imports as the EU works to cut off any type of insurance for importing…

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