By JERUSALEM POST STAFF
Iran's state-owned shipping line rejected on Thursday US accusations that it transferred arms and other military-related cargo.
The Islamic Republic of Iran Shipping Lines also said that US sanctions against it and its affiliates would be ineffective because it had no deals with American companies.
The United States on Wednesday slapped financial sanctions on the shipping line and 18 related companies for allegedly helping to transfer military-related arms and cargo. That means any bank accounts or other financial assets belonging to the company that are found in the United States will be frozen. Americans are also barred from doing business with the companies.
The shipping line said Thursday "the accusations by the US are sheer lies."
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