Iran offers India $1bn sovereign guarantee for crude shipments
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Iran offers India $1bn sovereign guarantee for crude shipments

Iran offers India $1bn sovereign guarantee for crude shipments

Iran has offered to underwrite insurance for its vessels to keep oil exports to India flowing, after New Delhi asked for assurances to help halt a fall in shipments, Reuters has reported. Iran's industries, mines and trade minister Mehdi Ghazanfari and oil minister Rostam Ghasemi told India that liabilities of $50m to $1bn are covered by "sovereign guarantee and government special fund." The two ministers said Iran's finance minister will issue a final letter on the sovereign guarantee in due course.

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