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Iran Oil Exports Face Insurance Snag No Matter What Europe Wants

  • Sanctions likely to hit insurance of Iran-loading tankers
  • U.K., French, German ministers meeting Iranian counterpart
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Why $100 Oil Won't Hurt the Economy as Much as in 2011

If European powers are to succeed in holding together a nuclear deal with Iran that the U.S. abandoned a week ago, then one issue they’ll need to consider is the insurance of oil tankers hauling the Persian Gulf country’s crude.

From early November, U.S. sanctions will likely prevent members of the International Group of P&I from covering the global tanker fleet against risks including spills if they’re moving oil to or from Iran, Mike Salthouse, the chair of a sanctions committee for the IG Group, said on Monday.