No Insurance For Iran Oil, Says IOC Official, Amid Looming US Sanctions

NEW DELHI: Insurers are not offering coverage policies for storage of Iranian oil, an Indian Oil Corp Ltd official said, owing to impending US sanctions on import of crude from Iran, which are expected to kick in on November 4.

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"Insurance companies are providing for asset cover but are not covering the crude kept in storage," the official said on condition of anonymity.

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