Japan P&I club seeks clarity on insurance sanction suspensions for Iranian oil shipments

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The Japan Ship Owners' Mutual Protection & Indemnity Association has called for more clarity on details related to the temporary suspension of sanctions against insurance for ships carrying Iranian oil, Platts reported.

Without clarity, the suspension could be rendered worthless, the P&I club said. The comments follow the International Group of P&I Clubs' advice to members to not offer cover for Iranian oil shipments, citing ambiguity over claims settlement and handling during and after the suspension period, which ends on Jul. 20, 2014.

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