Underlining Fitzpatrick's remarks, the insurance market Lloyd's of London—which controls 15-20% of the global marine insurance sector—said it would not insure or reinsure petroleum shipments going to Iran. That decision will have effects elsewhere, with more players pulling back from offering coverage to Iran, as Lloyd's is considered a major influence on other insurance markets. Even ahead of the new EU sanctions, traders reported a steep decline in the number of shipments reaching Iran during July, with only three cargoes of gasoline reaching the country—a sharp drop from the 11-13 cargoes Iran normally requires during the summer holiday driving season. According to Reuters, the gasoline was supplied by Turkish refiner Tupras and Unipec, the trading arm of China's Sinopec.