European ship owners could violate impending EU sanctions against Iran without even knowing it every time they set sail, leaving them vulnerable to being blacklisted, the managing director of leading industry group Intertanko said on Friday. Vessels ranging from tankers …
EU nations are dithering over how to fill a multi-billion-euro fund to help tackle climate change, just as the region’s executive body hosts talks with countries likely to bear the brunt of extreme weather. The European Union recommitted to providing …
Spain’s sickly economy faces a “crisis of huge proportions”, a minister said on Friday, as unemployment hit its highest level in two decades and Standard and Poor’s weighed in with a two-notch downgrade of the government’s debt. Spain’s unemployment rate …
Key ship insurer, China P&I Club, will halt indemnity coverage for tankers carrying Iranian oil as of July amid tightening Western sanctions against OPEC’s second largest oil producer, two club officials told Reuters on Thursday. This is the first sign …
Despite delays and complaints the European Union’s Solvency II regulations, which cover the insurance industry, are slowly but surely moving forward. While most of the industry is primarily concerned with the regulations governing capital requirements – Solvency II’s “Pillar I,” …
A widely expected ban on European insurance cover for Iranian oil exports from July 1 is threatening to curtail shipments and raise costs for major buyers such as Japan and South Korea, insurance industry sources say. Last week the European …
The SOS – SaveOurSeafarers – campaign announced that it “welcomes the extension of the EU counter- piracy operation until end 2014, and the EU decision to broaden the scope of its naval operation in the Gulf of Aden and Indian …
The Council of the European Union has prolonged the EU’s counter-piracy operation Atalanta by two more years, until December 2014. The Council also said that the decision “extended the force’s area of operations to include Somali coastal territory as well …
The European Union will allow some insurance on Iranian oil shipments before its full embargo starts on July 1, member states agreed on Thursday, responding to concerns from Asian importers heavily reliant on the EU for their coverage. The decision, …
The U.S. Chamber of Commerce and BUSINESSEUROPE have issued the following statement in a letter signed by twelve U.S. and European business associations to President Obama and EU Presidents Van Rompuy and Barroso, calling for urgent action to create a …
