Finance and InsuranceMiddle East

Iranian P&I clubs get one-year extension from India

Athens: India has granted a one-year extension to its approval of two Iranian P&I clubs covering boxships and tankers calling at Indian ports.

Kish P&I Club and Qeshm International Trust Alliance P&I (formerly Qita P&I Club) will have their approval periods extended, which should pave the way for more imports of Iranian crude into India, Reuters reports.

In May this year, India imported 66% more crude from Iran than in the same month last year.

Europe’s International Group (IG) of Protection and Indemnity (P&I) are prevented from insuring Iranian oil tankers and other vessels by EU sanctions.

Negotiators from Iran, Europe, the US and Russian are meeting in Vienna today to discuss a new trade sanctions relief deal in exchange for a halt in Tehran’s nuclear programme.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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