LONDON (Reuters) – Britain and France are studying a proposed European Union ban on insuring tankers carrying Iranian oil to see how severe an impact it would have on trade with non-EU countries, British Foreign Secretary William Hague said on Tuesday.
Asked in parliament about a May 8 Reuters report that Britain was seeking to persuade fellow EU members to postpone a ban on insurance for cargoes of Iranian oil, Hague confirmed EU countries were discussing whether the insurance ban should apply from July 1, or later.
“The reason we are discussing that separately is because of concerns raised by other countries outside the European Union about the impact on their trade and so we are currently assessing that, working with France in particular to try to understand how serious that impact would be,” he said.
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