Shipping Corp of India (SCI) will soon start services to Iran as Indian insurers have agreed to offer up to $100m of cover per voyage, according to SCI chairman Sabyasachi Hajara. Iran is hit by EU sanctions from 1 July that saw insurers withdraw their coverage for tankers carrying Iranian crude oil.
“As far as India is concerned, we are bothered about our sovereign requirements. We took a pragmatic view,” Hajara was quoted saying.
Indian government officials have said India will follow sanctions imposed only by the UN and is not bound by the US and EU measures against Iran.
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