Mumbai—India will continue to allow insurance covering Iranian ships carrying crude to India to be underwritten by Iran’s Kish P&I and India’s Moallem Insurance for another few months, allowing refiners to continue to import crude from Iran on a CIF basis. The approval from India’s shipping ministry to continue insuring Iranian ships expired at the end of September, causing crude imports to be halted before the new approval was given. “Unloading of crude had to be stopped for two, three days,” an Indian refining source said Wednesday.
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