June 21, 2012
China, Japan And India Find Ways To Import Iran Oil Bypassing Sanctions
Asia's top buyers of Iranian crude oil have found ways to continue the imports, bypassing the U.S. and European Union sanctions on trade with Tehran, to avoid depending entirely on the Saudi Arabian oil amid unsteady supplies from Libya and Iraq.
Japan's parliament Wednesday approved government guarantees on insurance for crude oil cargoes from Iran, which permits the government to provide each tanker carrying the Iranian oil a risk cover of up to $7.6 billion, Reuters .. reported.
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