Britain wants review of insurance sanctions on Iran

(JTA) — Britain reportedly is urging its European partners to reconsider one of the most biting Iran sanctions among those set to kick in this summer.

A broad range of European Union sanctions targeting Iran’s energy sector include a ban on insuring ships that transport Iranian oil.

The New York Times reported Friday that Britain, a longtime base for sea insurers, has convened meetings with other European nations to reconsider the ban, set to start on July 1.

The Times quoted a British Foreign Office statement as saying that it is in discussion with member states "to ensure that the pressure on Iran is maximized, while avoiding any undesired impacts elsewhere.”

Reuters is reporting that Britain wants a six-month delay.

The anticipation of sanctions on insurers is already having an affect on Iranian oil sales, even in countries like China that have otherwise resisted sanctions.

 
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