Iranian government starts granting funds for tanker insurance

The Iranian government has started granting funds to insure its oil tankers, Trend reports on Friday.

The government will cover about 10% of insurance expenses of Iranian companies. The exact sum has not be announced, but it reaches billions of dollars.

The Central Insurance Company will receive the full sum. It will then distribute it among companies.

Many foreign companies had to quit insuring Iranian tankers after implementation of EU sanctions.