News ID: 2874
Published: 0720 GMT October 06, 2014

Iranian oil tankers back to int'l waters

Iranian oil tankers back to int'l waters

Western governments have scrapped European Union sanctions on the National Iranian Tanker Company and the company will soon reenter international markets, managing director of NITC said.

Ali Akbar Safaei added that these sanctions have nothing to do with the general sanctions and the embargo on money transfer.

He said that on October 15, 2012, the EU court reached an agreement on another round of sanctions against the company, adding that accusations pertained to transferring revenues to the government resources.

"The British Treasury has publicly announced the repeal of an asset freeze on NITC following an EU court verdict and the list of sanctions has been reviewed," he said, noting that 93 percent of the world trade are maritime and NITC plays an important role in national, regional and international trade.

The ruling regarding NITC was passed on July 3, 2014.

Speaking on the company’s loss of international market, Safaei said meeting the standards will compensate the losses and help the company resume the influential role in international maritime transportation.

Safaei noted that the company is making great efforts to raise its standards in international transportation and pave the way for new relations.

“NITC has currently met at least 28 international conventions and regulations,” he said, stressing that all global standards have been observed by the company.

Speaking on the rise in the company’s tonnage, Safaei said before sanctions, almost 70 percent of the company’s capacity belonged to international markets.

This annulment is one in a series of invalidations by the European court of charges against Iranian individuals and companies from the EU sanctions list. Yet, the EU has not yet put the rulings into effect.




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