Azerbaijan, Baku, Jul.15/ Trend F.Milad/
The vice chairman of the Iranian Chamber of Commerce, Industries and Mines has said that if the European Union insurers do not provide service to Iranian tankers, it will be very difficult to find a substitute for them.
Pedram Soltani told the ISNA News Agency that due to the U.S. and the EU sanctions against Iran, the issue is not confined to buying crude oil by Europe. So, if the insurance services are not provided, finding a replacement will be very difficult, he noted.
European Union sanctions against Tehran have stopped European insurers, who dominate the marine insurance sector, from offering cover on Iranian crude.
The lack of shipping cover has already disrupted flows of Iranian oil to Iran's major customers in Asia - China, India, South Korea and Japan - at a time when the EU has stopped buying its oil altogether.
The EU sanctions took effect on July 1 against the Central Bank of Iran, imports of crude oil from Iran, as well as issuance of insurance policies for Iranian ships.
The sanctions seek to stem the flow of petrodollars to Tehran to force it to halt its nuclear program.
Kish Protection and Indemnity Club of Iran has said that there is no problem in insuring oil tankers by domestic insurers.
The Kish P & I managing director Mohammad-Reza Mohammadi-Banaii added that 13 new oil tankers will be insured in the near future, according to the Fars News Agency.