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Japan to continue using sovereign insurance to ship Iranian oil: Sources

Posted On: Jan. 19, 2016 12:00 AM CST

Sources have said that Japanese buyers of Iranian crude will have to continue using special sovereign shipping insurance to import oil in the near future, despite the lifting of sanctions against Iran, reports Reuters.

"The sanctions are lifted conditionally so the (government) scheme will continue to be used for the time being," said one of the sources.

Shippers continue to face uncertainty over whether they can get coverage from U.S. insurers after the lifting of sanctions.

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