Indian refiner MRPL secures Iranian insurance for oil shipment
Press TV – May 22, 2012
India’s refiner MRPL has received a crude cargo under the coverage of an Iranian insurance company to become the first Indian firm taking such an action in the face of oil embargoes against the Islamic Republic, sources say.
Mangalore Refinery and Petrochemicals (MRPL) “recently got a cargo insured by an Iranian firm and other cargoes can also be insured from Iran. The company will do that on a case-by-case basis,” Reuters quoted one of the sources on Monday.
The Iranian insurer provided coverage for MRPL’s crude cargo of about 707,500 barrels, which arrived at India’s Mangalore Port last week.
Another source said, “As long as we can avail of Iranian cover we will continue to import cargoes on that basis.”
India is one of the biggest customers for Iranian crude. The Asian country accounts for more than 10 percent of Iran’s annual oil exports, worth about $12 billion.
Earlier in May, Indian General Insurance Corp. (GIC) said it planned to provide third-party liability coverage up to $50 million for ships importing Iranian crude in a bid to prevent the oil embargoes from disrupting Iranian crude shipments to India.
The European Union approved new sanctions on Iran’s oil and financial sectors on January 23. The sanctions are meant to prevent member states from buying Iranian crude or doing business with its central bank. The sanctions will come into force as of July 1.
Additionally, the embargo banned European companies from transporting, purchasing or insuring crude and fuel originating in Iran and intended for anywhere in the world.
The US and the EU have imposed new financial sanctions as well as oil embargoes against Iran since the beginning of 2012, claiming that the country’s nuclear energy program includes a military component, a claim Iran has strongly rejected.
Related articles
- S. Korea seeks exemption from EU Iran oil ban (dawn.com)
- US “not impressed” with India over Iran oil ties (alethonews.wordpress.com)
- ‘Iran oil sanctions bad idea if they work’ (alethonews.wordpress.com)
- Nuclear Agency Deal with Iran Cuts Crude Price (247wallst.com)
No comments yet.
Featured Video
Israel’s diamond industry is dying. That’s a billion-dollar problem for the IDF.
or go to
Aletho News Archives – Video-Images
From the Archives
Mossad behind Italian ‘blackmail’ spying scandal
The Cradle | November 1, 2024
An Italian private intelligence firm that allegedly hacked government databases to collect information on thousands of prominent people, including politicians, entrepreneurs, and celebrities, is accused of working for Israeli intelligence and the Vatican, media reported on 30 October.
Police wiretaps leaked to Italian media show that Equalize, which employs former members of Italian intelligence, is accused of breaching the servers of government ministries and the police between 2019 and 2024 to collect information.
Yedioth Ahronoth reported that Equalize allegedly collected numerous classified files that contain sensitive information about prominent Italians to sell to clients – including major companies and law firms seeking information to gain an advantage over competitors, win court cases, or for blackmail and extortion.
Prime Minister Meloni described the alleged scheme as “unacceptable” and “a threat to democracy.” … continue
Blog Roll
Recent Comments
Bill Francis on Victoria Moves to Force Online… papasha408 on The Empire of Lies: How the BB… loongtip on US Weighs Port Restrictions on… Bill Francis on Chris Minns Defends NSW “Hate… Sheree Sheree on I was canceled by three newspa… Richard Ong on Czech–Slovak alignment signals… John Edward Kendrick on Colonel Jacques Baud & Nat… eddieb on Villains of Judea: Ronald Laud… rezjiekc on Substack Imposes Digital ID Ch… loongtip on US strikes three vessels in Ea… eddieb on An Avoidable Disaster Steve Jones on For Israel, The Terrorist Atta…
Aletho News- Israel’s diamond industry is going extinct. That’s a billion-dollar problem for the IDF.
- Iran says no basis for inspection of bombed nuclear sites
- How reporting facts can now land you in jail for 14 years as a terrorist
- Bill Gates, Pfizer CEO Albert Bourla Ordered to Testify in Dutch COVID Vaccine Injury Lawsuit
- The vindication (and brutal punishment) of Dr. Reiner Fuellmich
- US Department of State Discloses Names of 5 Europeans Sanctioned for Censorship Against US
- The Epstein Saga: Chapter 1, Mr. Clinton
- Bill Clinton is in the frame again, but this time it’s Trump who put him there
- US Navy effectively becomes a tool of modern piracy
- EU Morphing Into Its Own Worst Enemy – Viktor Orban
- If Americans Knew
- The Faces of AIPAC: the largest pro-Israel lobbying org in the US
- Gazan Christians mark 3rd Christmas under genocide – Not a Ceasefire Day 75
- Israeli scams children with cancer out of millions fundraised for their treatment, BBC finds
- Casey Kennedy Fired from AG Scientific Amid Zionist Troll Campaign Over Track AIPAC Work
- The Hasmoneans: The Jewish Dynasty That Gave Us Hanukkah Is a Symbol of Murder, Not Heroism and Hope
- Int’l NGOs may be blocked from Gaza starting Jan. 1 – Not a Ceasefire Day 74
- From Churches to ChatGPT: Israeli Contracts Worth Millions Aim to Influence U.S. Public Opinion
- Who is the Pro-Israel Clique behind TikTok’s US Takeover?
- Medical Crisis in UK Prisons – 800 Doctors Warn of ‘Imminent Deaths’ Among Palestine Action Strikers
- The New York Times ignores an essential part of the Jeffrey Epstein story — Israel
- No Tricks Zone
- Meteorologist Dr. Ryan Maue Warns “Germany Won’t Make It” If Winter Turns Severe
- Merry Christmas Everybody!
- Two More New Studies Show The Southern Ocean And Antarctica Were Warmer In The 1970s
- Der Spiegel Caught Making Up Reports About Conservative America (Again)
- New Study: 8000 Years Ago Relative Sea Level Was 30 Meters Higher Than Today Across East Antarctica
- The Wind Energy Paradox: “Why More Wind Turbines Don’t Always Mean More Power”
- New Study Reopens Questions About Our Ability To Meaningfully Assess Global Mean Temperature
- Dialing Back The Panic: German Physics Prof Sees No Evidence Of Climate Tipping Points!
- Astrophysicist Dr. Willie Soon Challenges The Climate Consensus … It’s The Sun, Not CO2
- Regional Cooling Since The 1980s Has Driven Glacier Advance In The Karakoram Mountains
Aletho News 
Leave a comment