(MENAFN) An American insurance firm, which specializes in the global shipping industry, has acquired necessary permissions from US government to cover Iranian oil loads shipped by non-American companies.
Basically, this means that the restraints which previously prohibited US insurance companies from covering cargos originating from Iran, have been removed upon the nuclear deal they settled last July on Iran's nuclear program.
In particular, when it came to exports from the Persian-Gulf Islamic Republic, insurance is where the biggest problem has been and now that seems to have been finally resolved, at least that's one problem out of the way.
European insurance firms will most likely follow as Iran is loading 4mn barrels of oil for shipment to France, Russia and Spain as the 1st delivery to EU buyers, let alone vital deals which already have been inked with energy giants like Total.
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