Lloyd’s curbs cover for Iran petroleum shipments-FT

Reuters: Lloyd’s of London, the insurance market, is restricting cover for any ships carrying petroleum to Iran, the Financial Times reported on its website late Thursday.

LONDON July 2 (Reuters) – Lloyd’s of London, the insurance market, is restricting cover for any ships carrying petroleum to Iran, the Financial Times reported on its website late Thursday.

Lloyd’s was quoted as saying it would ensure its members complied with new U.S. rules once President Barack Obama signed new sanctions legislation.

The sanctions are designed to take aim at companies providing Iran with petroleum and the underwriters of those shipments and are the toughest unilateral measures taken against Iran in more than a decade.

(Reporting by Alison Birrane; editing by Keiron Henderson)