Iran Sanctions Are Having a Quicker Impact Than Expected

Wall Street Journal – March 7, 2012

Sanctions on Iran are affecting the country’s ability to export oil more quickly than many expected, in large part because oil shippers leaving the country are having increasing difficulty insuring their vessels, a U.S. State Department official said Wednesday. Carlos Pascual, special envoy and coordinator for international energy affairs at the State Department, said oil shippers are having difficulty getting their vessels insured even for voyages bound for countries not participating in sanctions. “A process that many thought was going to ...

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