IRAN

 

Japan Expands Cover For Domestic Tankers Carrying Iranian Crude

Japan’s insurers have received approval from Tokyo’s Ministry of Finance to expand maritime coverage for Japanese tankers carrying Iranian crude. Under the agreement, Japanese insurers can provide cargo and hull cover of up to ¥39bn (almost $500mn), an increase of 35% from the original plan. The agreement follows the coming into effect on 1 July of EU sanctions banning the...