29 Mar 2024
TEHRAN (FNA)- A senior Iranian legislator called on the western powers to call off their ban on the import and insurance of Iranian crude cargoes as a gesture of good will before the start of the next round of nuclear talks with Tehran in Geneva on Tuesday, saying that settlement of the Iran-West nuclear standoff needs confidence-building.


"To be fruitful, the negotiations need some positive steps taken by both sides," member of the parliament's National Security and Foreign Policy Commission's Presiding Board Mohammad Hassan Asafarisaid Saturday.

"For instance, the westerners can make some (positive) decisions (to remove the ban) on the insurance of Iranian oil tankers or revise their decisions with regard to the ban on the purchase of Iranian crude by China, India and Japan before the start of the (Geneva) talks in a bid to show their good will," he added.

"Meantime", Asafari underlined, "Tehran is ready to show more transparency in its nuclear program in the upcoming talks with the Group 5+1 (the five permanent UN Security Council members - the US, Britain, France, Russia and China - plus Germany)."

The US and European Union sanctions against Tehran have stopped European insurers, who dominate the marine insurance sector, from offering cover on Iranian crude. The sanctions, which prevent EU member states from purchasing Iran's oil or extending insurance coverage for tankers carrying Iranian crude, came into effect on July 1, 2012.

On August 1, 2012, the US Congress approved more extrajudicial embargoes against Tehran to punish banks, insurance companies and shippers that help Tehran sell its oil. But the lack of shipping cover has failed to disrupt the flow of Iranian oil to Iran's major customers in Asia - China, India, South Korea and Japan.

Iran announced in July, 2012 that the country has set up a domestic consortium to provide insurance cover for the oil tankers which carry Iran's oil for exports.

"A consortium consisting of the internal insurance companies led by Bimeh Iran (insurance company) has been set up to provide insurance cover for the oil tankers which are tasked with exporting Iran's crude and oil derivatives (products)," Deputy Manager of Bimeh Iran Company for Technical Affairs Siavash Saeedian told FNA last July.

Iran has also voiced preparedness to provide insurance cover for all foreign ships and oil tankers.

By Fars News Agency

 

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