India ships will lose insurance due to Iran sanctions, may look to China.
Indian shipping firms will find it difficult to obtain replacement insurance coverage to continue importing Iranian crude oil after new European Union sanctions come into effect, industry sources said.
State-run Shipping Corp. of India, the largest tanker owner in India, will lose its EU insurance coverage for its oil tankers operating in Iran from July 1, when European insurers will be prohibited from indemnifying ships carrying Iranian oil.
Indian maritime firms are likely to be the most affected in Asia by the sanctions as the other two biggest buyers China and Japan.
That is because they do not rely on European insurers but are covered by domestic providers.
India, China and Japan are Iran’s three biggest crude oil buyers.
India has lived with a nuclear Islamic republic of Pakistan for two decades. That is why India sees no point in preparing for war to avoid Iran getting a nuclear bomb.
For one billion of the total 1,2 billion Indian population, it feels horribly unjustified that Indians have to use a full day wages to fill a couple of liters of gasoline on their bikes.
For an middle age Indian, the present petrol price is similar to an American paying 10 US dollar for a gallon.
A billion Indians will curse and blame Israel and America for their financial trouble.
But the absolute majority of them do not know that the eternal heat for supporting Iran, who curse the Jewish people, will be much more painful.
Only by reading the Bible you have a chance to understand our times. If you reject or ignore the Word of God, you are eternally lost.
Then Balak said to Balaam, “Neither curse them at all nor bless them at all!”
India, like all other nations, must stand with Israel or bring a curse down over its own population.
Written by Ivar