ILNA: India extended its insurance cover for Iranian ships to enter Indian waters for a further six months on December 27, Mina Sediq Nouhi, an official at Irans Central Insurance Company said..India had asked Iran to provide $370 million as a guarantee for insuring its tankers, but Iran did not accept, she added.
Indias Deputy Nautical Adviser, Deepak Kapoor, sent the letter to Irans Economic Affairs and Finance Ministry on Dec. 10 ahead of a renewal of approval to the Iranian underwriters on Dec. 27, according to Reuters.
In September, India granted a three-month extension to Iranian underwriters Kish P&I and the Moallem Insurance Co. for insuring oil tankers and ships calling at Indian ports after Tehran provided a sovereign backing of $1 billion.
By ILNA
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