|Chinese insurer stops covering Iranian oil|
Company's decision, coupled with US and EU sanctions, will make it more difficult for refiners to import oil from Iran.
Last Modified: 05 Apr 2012 15:35
Most oil tankers are insured by European companies, new sanctions bar them from covering ships with Iranian oil [EPA]
|A major Chinese insurer, China P&I Club, will halt coverage for tankers carrying Iranian oil from July, in the latest sign that Western sanctions may have a serious impact on the Islamic Republic's oil industry.|
The company's decision, first reported on Thursday by the Reuters news agency, could make it difficult for oil refineries in China to keep importing from Iran.