European insurance sanction will be the toughest to dodge, Reuters says
(NEWSER) - Could the decisive blow in the West's struggle with Iran involve insurance salesmen? An upcoming European ban on providing maritime insurance for Iran's oil tankers may be the most vexing sanction Tehran has ever faced, experts tell Reuters . That's because 90% of the world's tanker insurance is based in the West, and without insurance, Iran can't ship to essential markets like Japan, China, India, and South Korea. "The bottleneck is insurance," says one Japanese buyer. More»
