EU to lift Iran oil ban

Brussels: The European Union will lift a ban on insuring Iranian oil for a period of six months starting January 20, Reuters reported.

"We would welcome the relaxation," Andrew Bardot, executive officer of the International Group of P&I clubs, said.

The suspension will allow the nation’s oil to be transported as well as other commodities including gold and other forms of petrochemicals.  [15/01/14]

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