New U.S. sanctions are likely to prevent the use of a Lloyd’s of London IT platform for any Iran insurance, adding to difficulties for European insurers providing cover for the country. European insurers, reinsurers, brokers and shipping firms have been …
European refiners are winding down oil purchases from Iran, closing the door on a fifth of the OPEC member’s crude exports after the United States imposed sanctions on Tehran, company and trading sources said. The drop in crude purchases from …
Global insurers are taking stock of how the U.S. withdrawal from an international agreement to deny Tehran nuclear weapons, and threatened sanctions against companies that do business with Iran, could affect them. Insurance broker Arthur J. Gallagher & Co. said …
Oil tanker owners are facing a nervous wait to find out whether they can carry on doing business with Iran after President Trump said on Tuesday he was reinstating a raft of sanctions against the Persian Gulf country. The return …
The reluctance of foreign banks to deal with Iran could complicate any compensation payments resulting from the collision last week of an Iranian oil tanker and a Chinese cargo ship, sources say. The tanker Sanchi, carrying 136,000 tonnes of highly …
Global shipping insurers have devised a way to ensure nearly full coverage for Iranian oil exports from next month after striking a deal to provide cover without involving U.S.-domiciled reinsurers, officials in Tokyo and London said. Restrictions on U.S. firms …
Western insurers are slowly reaching deals with Iran as they seek to re-enter a multi-billion dollar market although the pace of business is hampered by banking restrictions 10 months on from the lifting of international sanctions. Shut out of international …
Shipping Corporation of India (SCI) will resume sailing to Iran this month after a four-year gap, transporting an oil cargo for a state-run refiner, the chairman of India’s biggest shipping company said on Tuesday. SCI stopped sailing to Iran in …
Ship insurers have stepped in to help plug a shortfall in cover for transporting Iranian oil resulting from the fact that U.S. reinsurers are still restrained by Washington’s sanctions, according to officials involved in the initiative. International oil and shipping …
Iran still faces constraints on oil exports as buyers are cautious about boosting trade immediately because of banking and ship insurance difficulties, a senior Iranian oil official said, despite seeing a “tangible” rise in shipments this month. Iran emerged from …
