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August 2nd, 2012 
FAKE NEWS for the Zionist agenda Chairman of the Shipping Corporation of India Sabyasachi Hajara said that his company will soon start offering the insurance coverage as Indian insurers have agreed to give as much as $100 million of cover per voyage, Bloomberg news network reported on Thursday.
The insurance service will help India’s biggest buyer of Iranian crude, Mangalore Refinery Petrochemicals Ltd. (MRPL), and other state processors secure supplies.
Iran was the fourth-biggest supplier of crude to the South Asian nation in the year (ending in March), according to the Associated Chambers of Commerce and Industry of India.
On January 23, under pressure from the United States, the EU foreign ministers approved new sanctions against Iran’s oil and financial sectors.
The sanctions, which prevent some EU member states from purchasing Iran’s oil or extending insurance coverage for tankers carrying Iranian crude, came into effect on July 1.
MP/HJL/IS
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