Lloyd's of London says managing agents can offer Iran insurance for oil transportation

LONDON (Reuters) - The Lloyd's of London insurance market said on Monday that from a European Union perspective its managing agents can now provide insurance and reinsurance for the transportation of Iranian oil and petroleum products, following the lifting of sanctions.

However it added that some restrictions on U.S. trade remain in place.

"The U.S. has also lifted sanctions on Iran regarding the oil and shipping sectors, although principally this relief targets non-U.S. persons conducting business with Iran," Sean McGovern, Lloyd's chief risk officer, said in a market bulletin.

"With a few exceptions, the general US trade embargo on Iran remains in place and U.S. persons remain prohibited from

conducting most business with Iran."

(Reporting by Carolyn Cohn; editing by Rachel Armstrong)