Leading maritime firm withdraws from Iran due to sanctions

April 26, 2012 16:31


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief


Lloyd's Register, a classification society that verifies the safety and environmental standards of vessels, has stopped assessing around 60 tankers and container ships owned by Iran's NITC and Islamic Republic of Iran Shipping Lines following pressure from the United States.

The company joins a broad spectrum of industries, from banks and insurers to refiners and shipowners, that have been forced to cut their ties to Iran because of tightening Western sanctions. The United States and Europe are trying to squeeze the revenues Iran makes from its oil exports to force it to halt a nuclear program they fear will be used to make weapons, but which Tehran says is for power generation.

"The Americans came to us and said that if we continued to work for the Iranians we would be blacklisted in America," Richard Sadler, the London-based chief executive of Lloyd's Register, said on the sidelines of a conference in Singapore.

"There was a lot of confusion about the sanctions and actually the recommendations was that it was better for British classification societies within Europe not to be dealing directly with NITC," he said.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
November 21, 2018
Megyn Kelly nears $30 million contract settlement with NBC News