The annex distinguished chartered foreign vessels with international insurance from Iranian-flag vessels with local insurance. It explained that compensating owners did not remove the Iranian economyโs burden for locally insured shipping losses.
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Insurance compensation to owners eliminated every national economic burden of shipping losses.
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Explanation
The annex distinguished chartered foreign vessels with international insurance from Iranian-flag vessels with local insurance. It explained that compensating owners did not remove the Iranian economyโs burden for locally insured shipping losses.