Japan Is Asked to Insure Iran Oil Shipments as EU Sanctions Bite

Japan’s government may insure tankers carrying Iranian oil, joining China and India in responding to European sanctions blocking private providers.

The Japanese transport ministry held discussions with the Japan Shipowners’ Association about providing insurance, Akimitsu Ashida, chairman of the group representing the country’s shipping companies, said at a conference in Tokyo today. India is considering sovereign guarantees, and Chinese government officials also met to discuss ways to prevent sanctions from disrupting Iranian shipments.