Key China insurer to stop covering Iran oil tankers

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Dec 29, 2008
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SINGAPORE - Key ship insurer the China P&I Club will halt indemnity coverage for tankers carrying Iranian oil from July amid tightening Western sanctions against OPEC's second largest producer, two club officials told Reuters on Thursday.

This is the first sign that refiners in China, Iran's top crude buyer, may struggle to obtain the shipping and insurance to keep importing from the Middle Eastern country. Iran's other top customers -- India, Japan and South Korea -- are running into similar problems, raising questions on how Tehran will be able to continue to export the bulk of its oil.

Key China insurer to stop coveri... JPost - Iranian Threat - News

Most of Iran's oil is sold to Asia and most of the ship insurers are refusing to cover tankers carrying Iranian oil. What will Iranian scientists eat while they are trying to build nuclear weapons?
 

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