Business And Markets

Iran Empowering Shipping Insurance

Iran Empowering Shipping Insurance Iran Empowering Shipping Insurance

Head of the Central Insurance company of Iran says domestic insurance firms are providing cover to oil tankers and marine and aviation transportation sectors.
Gholam Reza Soleimani said CII contributed to the process by empowering domestic insurers after the second round of US sanctions cut off Iran from the International Group of P&I Club. 
In July Iran proposed to insure oil cargo to India after Indian insurers stopped the service in the face of impending US sanctions, a move that helped Tehran continue supplying its second biggest oil customer. 

Iran had previously faced similar problems in insuring its oil tankers and ships when the previous round of international sanctions took effect before the 2015 nuclear agreement with the six world powers.  


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