Saudi Arabia and Bahrain have banned Iranian vessels from cruising in their waters and imposed other shipping restrictions as a result of ongoing tensions between Riyadh and Tehran, according to ship insurers referring to local reports.
Iran has been endeavouring to increase its oil exports but still faces insurance and financing obstacles in spite of the lifting of international sanctions on its banking, insurance and shipping sectors last month in the context of the nuclear deal with world powers.
Restrictions on Iranian vessels is unlikely to influence international trade, though the uncertainty will impede Irans trade in the region.
Norwegian ship insurer Gard stated Bahrain had imposed a prohibition on any ship that has gone Iran.
"There is currently no such restriction in Saudi Arabia," Gard wrote, citing information from a logistics provider. Saudi Arabian and Bahraini authorities have not given any information about the issue.
Ship insurer West of England also indicated that, "An entered vessel has since been denied entry to Bahrain after visiting an Iranian port two port calls earlier, resulting in the fixture being cancelled."
Saudi Arabia and Bahrain cut diplomatic ties with Iran after Iranian protesters set fire to the Saudi Embassy in Tehran last month following Riyadh's execution of a Shiite cleric.