Author: firstcause

US threatens India with sanctions over Iran trade   [Copy link] 中文

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Post time 2012-7-12 21:53:14 |Display all floors
India insures Iran oil to avoid supplies disruption

Thu Jul 12, 2012

India has authorized state-run insurers to provide limited cover to its tankers transporting Iran's oil in an attempt to prevent any interruption in supplies, following the US-engineered European Union insurance bans against Iran.


India's state-run insurance firms have agreed to provide each Indian ship owners carrying Iranian oil $50 million in cover. The state-run General Insurance Corp. will reinsure the cargoes.


The offer is much lower than the up-to-one billion dollar bids that European insurers would normally give per ship to cover third-party claims in the event of an oil spill or other accident.

"Our exposure would run into billions of dollars, but since there haven't been many insurance claims in the last several years, we have taken a pragmatic view," said Sabyasachi Hajara, the chairman and managing director of the state-owned Shipping Corp. of India, the country's biggest shipper of crude from Iran.

On July 1, the European Union’s sanctions against Iran's oil and financial sectors entered into effect.

The sanctions prevent all the EU member states from purchasing Iran's oil or extending insurance coverage for tankers carrying Iranian crude.

The sanctions have been imposed based on allegations that Iran is seeking to acquire a military nuclear capability. Tehran has refuted such allegations, noting that frequent inspections by the International Atomic Energy Agency have never found any diversion in its nuclear energy program toward military purposes.

On July 5, President of the Central Insurance of Iran Seyyed Mohammad Karimi condemned EU’s insurance ban against Iran as a blatant violation of human rights and a threat against people’s peace and security.

He noted that following unfair sanctions against the country, all Iranian insurance companies have bolstered their synergism and cooperation and have “turned threats into an opportunity.”


Diane Abbot (British MP): Anglos love playing divide and rule
David Cameron (British PM): Anglos caused most of the world's problems!

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Post time 2012-7-12 21:54:45 |Display all floors
firstcause Post time: 2012-7-12 21:53
India insures Iran oil to avoid supplies disruption

Thu Jul 12, 2012
Anonymous

This is a great news for all of you IRAN, Japan, India, Japan, China, South Korea, North Korea and who ever is buying Iranian oil... All that money you guys were paying to make the European Insurance company rich and richer every day, will be used to make your own insurance companies rich and powerful... WELL DONE. Just make sure you guys are protecting all those oil tankers with your Navies... American and Europeans are not trust worthy... they are always busy planning evil plans.

Diane Abbot (British MP): Anglos love playing divide and rule
David Cameron (British PM): Anglos caused most of the world's problems!

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Post time 2012-7-12 21:56:09 |Display all floors
Japan takes measure to raise Iran oil shipping capacity

Wed Jul 11, 2012

Japan is taking measures to increase its oil imports from Iran despite Western sanctions that ban insurance coverage on Iranian crude.


European insurers stopped offering cover on Iranian crude when the sanctions imposed by the European Union took effect last week, Reuters reported on Wednesday.

The ban forced Tokyo to decrease oil shipments from Iran despite an increase in the country’s overall demand, but the country is now expanding the maritime coverage of its insurers, which means more Japanese tankers will transport Iranian crude.


Industrial sources who insisted to remain unidentified said that Japanese insurers have raised their cargo and hull cover for tankers carrying Iranian crude to USD 491 million, 30 percent higher than an initial plan unveiled in April.

Cargo and hull insurance protects ships and their contents against physical damage.

The measure will allow two supertankers, instead of one, to transport Iranian oil at one time and boost the country's shipping capacity from Iran to over 200,000 barrel per day.

Japan, Iran's third biggest oil buyer, vies to keep Iranian crude flowing despite Western sanctions, while world oil prices have jumped.


Diane Abbot (British MP): Anglos love playing divide and rule
David Cameron (British PM): Anglos caused most of the world's problems!

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Post time 2012-7-12 21:58:27 |Display all floors
firstcause Post time: 2012-7-12 21:56
Japan takes measure to raise Iran oil shipping capacity

Wed Jul 11, 2012
Business opportunity

Really Iran has a competitive advantage in insuring oil shipments, they are able to provide another shipment to replace any loss quickly - unlike Europe based insurers. The pollution claims bit may be underwritten or reinsured,by way of a proportion of premium by the host government as it is largely controlled, quantified and litigated by the host country courts, and local cost of clean up labour, loss of profit, etc. Iranian insurers may even take over this worldwide business from European insurers in the long term !!


Diane Abbot (British MP): Anglos love playing divide and rule
David Cameron (British PM): Anglos caused most of the world's problems!

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Post time 2012-7-12 21:58:50 |Display all floors
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Hey but what do I know, huh?

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Post time 2012-7-12 23:44:11 |Display all floors
firstcause Post time: 2012-5-22 19:36
Turkey opposes anti-Iran sanctions: Turkish minister

Tue May 22, 2012

Turkey, a NATO country, is paying for its Iranian oil in gold, thereby giving the once almighty $U.S. another kick along the road to irrelevance.  

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Post time 2017-8-23 06:10:25 |Display all floors
What do expect from a ig bit a grunt?

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