Swiss Reinsurance Co. and Lloyd’s of London, the world’s oldest insurance market, are among insurance companies being probed by New York’s insurance regulator about their compliance with an expanded Iran sanctions law. The state Department of Financial Services is asking …
Oil tanker owners are cushioning the impact of Iranian trade restrictions by shipping crude over greater distances to some of Asia’s biggest economies, the founder of Nordic American Tankers Ltd. said on Wednesday. Chief Executive Herbjorn Hansson said Western sanctions …
Iran’s crude oil exports in March may plunge by a quarter from a month earlier to the lowest since tight Western sanctions came into effect in 2012, industry sources said, squeezing income for Tehran as sanctions cast doubt over its …
A final version of new U.S. economic sanctions against Iran would give the Obama administration more time to implement measures aimed at its energy, shipping and port sectors, but otherwise was little changed from an initial draft released last month. …
New sanctions aimed at reducing global trade with Iran in the energy, shipping and metals sectors may soon be considered by the U.S. Senate as part of an annual defense policy bill, senators and aides said on Tuesday. The sanctions …
Two European insurers have withdrawn cover for tankers involved in the Iranian oil trade, the first such move since tough new sanctions were imposed in July, documents obtained by Reuters show. The tankers, operated by Hong Kong’s Titan Petrochemicals Group …
The U.S. Senate unanimously approved on Monday a package of new economic sanctions on Iran’s oil sector just days ahead of a meeting in Baghdad between major world powers and Tehran. The sanctions add to a raft of punitive measures …
Japanese buyers of Iran crude may ask Tehran to include a force majeure clause in contracts if they are unable to pay Iran or lift Iranian oil due to lack of insurance cover for tankers under European Union sanctions, industry …
Tough new U.S. sanctions against Iran are raising concern that the OPEC member’s insurers may not be able to pay Western claims in the event of an accident, but Iran’s main ship insurer said it is confident it would be …
Japan’s main shipping insurer will only be able to provide a fraction of the coverage to tankers transporting Iranian oil under new European Union sanctions, officials said on Friday. Starting in July, European insurers and reinsurers will be prohibited from …
