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Iran extends shipping, insurance cover to keep oil flowing to India

Iran has begun providing shipping insurance cover as well as its own vessels to continue exporting crude oil to India, its second biggest buyer of oil after China, people with direct knowledge of the development said.

With the US reimposing economic sanctions against Iran driving away western re-insurers, Tehran has started to ship crude oil to India in its own ships and is also providing insurance cover for the transportation, they said.

Source: Business Standard

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