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International

Iran seeks insurance authorization from India amid sanctions

June 18, 2018 Reprints

Iran has sought “permanent authorization” from India for its two local insurers amid recent U.S. sanctions against Iran, Business Line reported. The authorization will enable Iranian ships and tankers with local insurance cover to call at Indian ports. The U.S. sanctions prevent European insurers from providing cover to Iranian oil and other shipments. India had authorized two Iranian ship underwriters – Kish P and I Club and QITA P and I Club – to provide insurance for Iranian vessels during previous U.S. sanctions between July 2012 and January 2014.

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Iran seeks insurance authorization from India amid sanctions

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