Source: Hindu Business Line

India has extended approval by six months, beginning June 28, for two Iranian ship underwriters to provide insurance for container, tanker and bulk vessels calling at Indian ports, the Wall Street Journal reported yesterday. The decision to relax sanctions against Iran by the West has enabled tankers to transport oil and petroleum products from Iran.

The extension will let India, the world’s fourth-largest energy consumer, import more of Iran’s crude oil, should Iraq’s conflict move south and interfere with Iraq’s ...

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