The oil and shipping markets remain in limbo as the world awaits action from US Congress on sanctions targeting Iran, in the wake of President Donald Trump last week declaring Tehran noncompliant with the nuclear deal. Iran may have to discount oil if sanctions reimposed Asian importers might trim contracts Sanctions could affect tanker insurance With the deal, called the Joint Comprehensive Plan of Action, still in place for now, Iran continues to sell and ship oil internationally. Traders, brokers and shipowners say any reimposition of sanctions targeting Iran’s oil sector might take months, if not a few years, to be fully implemented, as this would require consensus among US policymakers as well as the skeptical international community, which has urged the US not to jeopardize the JCPOA. Even so, they are already eying potential consequences if the US snaps back sanctions or imposes other measures that prompt Iran […]