BREAKING NEWS

EU set to re-impose sanctions on more Iranian shipping companies

By REUTERS

MARCH 24, 2015 15:02

LONDON - The European Union is set to put 40 Iranian shipping firms back on a list of sanctioned groups in a blow to the Islamic Republic's transport sector which has sought an easing of trade restrictions, letters sent from the EU showed.

The move, which comes at a critical time in international talks on Iran's nuclear program, is part of the EU's response to a series of court victories by Iranian companies that have overturned EU sanctions against them. In February, the bloc re-imposed sanctions on Iran's biggest oil tanker firm NITC.

The 40 companies, including Hamburg-based Ocean Capital Administration GmbH, were previously placed on the EU's sanctions list because the EU said they were controlled or otherwise linked to top national carrier the Islamic Republic of Iran Shipping Lines (IRISL), which had previously been blacklisted.

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