News Content
Three Iranian shipping companies taken off British Treasury sanctions list
THE British Treasury has deleted names of three Iranian companies active in maritime transportation from its list of entities entitled to financial sanctions, reported the Tehran Times.
The Treasury's Office of Financial Sanctions published a notice on August 3 saying that to update the treasury's Consolidated List regarding entities listed under Council Regulation (EU) imposing financial sanctions against Iran, an asset freeze no longer applies to IRISL Club, IRISL Multimodal Transport Company and Leading Maritime Pte Ltd.
The notice reads that listings of these entities have been annulled as a result of judgments of the General Court of the European Union.
On November 9, 2013, a judgment of the General Court of the European Union of September 16, 2013 in regard to Islamic Republic of Iran Shipping Lines (IRISL) annulled the listings of IRISL Club and Leading Maritime Pte Ltd.
The second judgment on March 9, 2015 upheld the annulment of IRISL Multimodal Transport Company.
US sanctions barred the IRISL fleet of about 170 vessels from sailing in international waters. They also prohibited international shipping companies from calling on Iranian ports.
International shipping lines are stepping up port calls to Iran as the country's massive maritime trade sector is emerging from sanctions.
The Treasury's Office of Financial Sanctions published a notice on August 3 saying that to update the treasury's Consolidated List regarding entities listed under Council Regulation (EU) imposing financial sanctions against Iran, an asset freeze no longer applies to IRISL Club, IRISL Multimodal Transport Company and Leading Maritime Pte Ltd.
The notice reads that listings of these entities have been annulled as a result of judgments of the General Court of the European Union.
On November 9, 2013, a judgment of the General Court of the European Union of September 16, 2013 in regard to Islamic Republic of Iran Shipping Lines (IRISL) annulled the listings of IRISL Club and Leading Maritime Pte Ltd.
The second judgment on March 9, 2015 upheld the annulment of IRISL Multimodal Transport Company.
US sanctions barred the IRISL fleet of about 170 vessels from sailing in international waters. They also prohibited international shipping companies from calling on Iranian ports.
International shipping lines are stepping up port calls to Iran as the country's massive maritime trade sector is emerging from sanctions.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
