Jan 26, 2014, 6:52 PM
News Code: 2626535
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Impediments to NITC crude oil transportation to 6 countries lifted

Tehran, Jan 25, IRNA – Managing Director of National Iranian Tanker Company (NITC) Ali-Akbar Safaie says based on the Iran-G5+1 Accord, his company will no longer face any problems in transportation of Iranian crude oil to China, India, Turkey, Taiwan, South Korea and Japan.

Commenting on effects of suspension of sanctions on National Iranian Oil Company, Safaie said as per the Accord, there will no longer be any impediments to insurance coverage, banking services and international shipping services for crude oil transportation to the six countries within the specified ceiling.

Based on an executive guidelines on the Iran-G5+1 Accord, published by the US administration on January 20, all sanctions on export of Iranian crude oil will be suspended as of the date, said the Iranian official.

He said the transportation and insurance sectors as well as financial transfer and exchanges will be subject to the suspension.

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