WASHINGTON (Reuters) – The Obama administration has imposed sanctions on Iranian companies it says provide insurance services to the country's main petroleum shipper, part of the latest U.S. effort to choke funding to Iran's disputed nuclear program.
The U.S. State Department said on Thursday it had imposed sanctions on Kish Protection and Indemnity Club, known as Kish P&I, and Bimeh Markazi-Central Insurance of Iran, known as CII. Kish provides insurance for the National Iranian Tanker Co, or NITC, and CII provides the shipper with reinsurance, it said.
The Iranian companies had been modeled after European P&I clubs which had been banned by Western sanctions imposed last year.
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