The sanctions Key ship insurer the China P&I Club will halt indemnity
coverage for tankers carrying Iranian oil from July. This is the first
sign that refiners in China, Iran's top crude buyer, may struggle to
obtain the shipping and insurance to keep importing from the Middle
Eastern country. Iran's other top customers -- India, Japan and South
Korea -- are running into similar problems, raising questions on how
Tehran will be able to continue to export the bulk of its oil. Iran
sells most of its 2.2 million barrels per day of oil exports in Asia,
where China, India, Japan and South Korea are the four biggest buyers.
