TOKYO (Reuters) - Japan's lower house is set to pass a special bill on Friday to allow it to provide insurance for continuing Iranian crude imports, making it the first country to attempt to initiate sovereign cover once EU sanctions on Iran are expected to start in July, the Yomiuri newspaper said on Thursday.
The bill is expected to be passed during the current session of the parliament that ends on June 21, as the secretary generals of the biggest opposition Liberal Democratic Party and its former partner, the New Komeito, have backed the bill, the report said.
The backing of the main opposition parties would clear a hurdle for the bill's smooth passing. Although the lower house is controlled by the ruling Democratic Party, the opposition has the majority of the upper house.
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