India insurers to give $50 million cover for Iran oil buy
run insurers have agreed to give limited cover to local ships for carrying Iranian oil, helping the energy-hungry country import reduced volumes from sanctions-hit Tehran from July, a Shipping Corp of India director said on Tuesday. “We have in writing from General Insurance Corp that it and four other insurers will provide a cover of $50 million to Indian flag carriers per Iranian voyage,” Sunil Thapar of Shipping Corp of India, the country’s largest shipping firm with a fleet of 29 crude carriers, told Reuters. Tough new European Union ...
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