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Neighbors complain of smell, San Francisco bacon restaurant shut down
NEW DELHI, Aug. 2 (UPI) -- An Indian shipping company will offer state insurance to tankers carrying Iranian crude oil in an effort to continue deliveries, a company chairman said.
European sanctions on the Iranian energy sector include action that targets insurance to tanker carrying crude oil from the Islamic republic.
Sabyasachi Hajara, chairman of the Shipping Corp. of India, said tankers could get around $100 million in insurance per voyage through a state-backed plan.
"As far as India is concerned, we are bothered about our sovereign requirements," he told Bloomberg News. "We took a pragmatic view."
Refineries in India halted crude oil purchases from Iran after European sanctions went into force in July.
New Delhi had faced difficulties finding a currency to use to pay for the crude oil it purchases from Iran because of financial pressure exerted on Tehran by governments wary of its nuclear ambitions.
India is one of Iran's largest oil customers but was named by U.S. Secretary of State Hillary Clinton as shielded from some U.S. sanctions because of a decision to "significantly" cut back on Iranian crude oil purchases, however.
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| Additional Energy Resources Stories | |
LONDON, May 20 (UPI) --
British investigators say they are "urgently reviewing" whether to join a European Union probe of three oil companies for alleged gasoline price-fixing.
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TEL AVIV, Israel, May 17 (UPI) --
mid growing concerns about security threats from Syria and Iran, Israeli Prime Minister Binyamin Netanyahu has greatly reduced planned defense budget cuts.
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Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
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Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
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