Treasury Is Asked Why US Firm Insures Ships Carrying Iran Oil
- Congressman Nunn raises questions about insurer American Club
- Company has covered dozens of vessels suspected of Iran links
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A Republican congressman is asking the Treasury Department to explain its handling of a US insurance company that covered dozens of tanker ships suspected of carrying sanctioned Iranian oil.
Representative Zach Nunn of Iowa, a member of the House Financial Services Committee, sent a letter Thursday inquiring about New York City-based American Club. “An American company reaping a profit from its involvement in insuring tankers that are transporting illicit Iranian oil to finance terrorism demands answers from this Administration,” he wrote.