India grants Iranian insurers 3-month extension
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India grants Iranian insurers 3-month extension

India grants Iranian insurers 3-month extension

The Indian government has extended a temporary approval to Iranian underwriters Kish P&I Club and Moallem Insurance Co to cover container and tanker vessels calling at Indian ports, in a move that should clear a backlog of non-oil shipments, Reuters has reported. The approval of the three-month extension takes effect from the date of the lapse, according to a shipping ministry letter to the Directorate General of Shipping. The previous approval given to Kish and Moallem to cover Iranian vessels lapsed on June 28. Since then Iran-bound containers of engineering goods, rice, soymeal and other items have been stranded at Indian ports, while shipment of fertilisers and other India-bound goods have piled up at Bandar Abbas port in the sanctions-hit country.

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