Delhi Denies Reports Regarding India Banning US-sanctioned Iranian ships 

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New Delhi – The Government of India (GOI) on Tuesday rubbished media reports regarding India banning US-sanctioned Iranian ships from entering Indian waters, calling them “incorrect.”

Citing the European Union sanctions, which came into effect on July 1, 2012, New Delhi in a statement said, “Some complications arose due to the non-availability of P&I club insurance to ships carrying Iranian crude oil. Consequently, a general exemption was granted by government to foreign ships carrying Iranian crude oil on CIF (cost, insurance and freight) basis to dock at Indian ports under certain conditions.”

The national Indian insurance companies, meanwhile, agreed to extend insurance coverage to Indian ships for transportation of Iranian crude to India, but there were complications. 

The GOI acknowledged doubts raised that there were, “some issues yet to be resolved between the national insurance companies and the ship owners regarding the terms of the insurance cover to be provided to Indian ships for carrying Iranian crude oil to India.”

“While the matter is being resolved, permission for ships carrying Iranian crude oil to India on CIF basis is being granted on a case by case basis on the request of oil PSUs,” said the GOI.

Earlier Indian media had reported that the GOI had withdrawn permission to allow Indian companies to import crude from Iran in ships arranged by Tehran and on a CIF basis. (IATNS)

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