China's P&I club halts cover over Iran sanctions
A major Chinese ship insurer will halt indemnity cover for tankers carrying Iranian oil from July, dealing a blow that narrows the insurance options for Tehran's main export already constricted by payment barriers caused by Western sanctions.
Sources at the China P&I Club told Reuters on Thursday that it did not want to stand alone in the market, especially after insurers in Japan and Europe plan to limit or ban their own coverage for
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