IRAN

 

Japan To Extend P&I Cover To Shipments Of Iranian Crude

Japan’s parliament on 15 June enacted a law authorizing the Japanese government to extend protection and indemnity (P&I) insurance cover to any shipment of Iranian crude by Japanese or third-party operated tankers. The law allows for a maximum $7.6bn of P&I cover, commensurate with international standards. Japan, which despite its 20% year-on-year drop of its oil imports from...