Sanctions impact Iranian crude exports

摘要

EU and US sanctions directly targeting Iran's oil export revenues appear to be having a big impact on Iran's ability to sell its oil, even to large customers in Asia not directly subject to the EU embargo, which came into full effect July 1. The EU sanctions have meant that crucial protection and indemnity insurance, much of which is provided by EU-based insurers, is no longer available for ships carrying Iranian oil, even to non-EU destinations. This has made shipowners reluctant to send vessels to Iran.