Insurance provided for Iran tankers to ship oil to/from Europe

Safaei said that NITC has begun negotiations with the International Group Agreement (IGA) from long ago in the light of lifting the Western sanctions on Iran following a nuclear deal.

Noting that the problem of P&I insurance coverage of Iranian tankers will be solved in the near future, Safaei said, 'With the removal of this problem, we will witness the presence of Iranian tankers in big European ports.'

Considering the high risk of carrying oil cargos, many countries allow the oil tankers of other countries to dock at their ports even if they are covered by credible insurance companies.

If insurance problem of Iranian tankers is removed, they can carry Iranian oil to Europe and the oil of international companies to different ports across the globe as well.

Kazinform refers to Trend.az