EU Court Rejects Sanctions on Iran ShippingFirm

Source: www.gulfoilandgas.com 9/17/2013, Location: Asia

Mohammad Hossein Dajmar, managing director of IRISL, said that EU’s “illegal and unilateral” against the IRISL were thrown out by the European court following months of efforts by Iran.

“This big success further puts the seal of approval on the rightfulness of the IRISL and the baselessness of the accusations leveled [against the Iranian firm],” Dajmar said.

In 2011, the EU targeted over 30 IRISL holding companies as part of Western-led sanctions imposed against the Islamic Republic over allegations of diversion in its nuclear energy program.

Following the sanctions, several IRISL vessels were temporarily seized in foreign ports.

The European court’s ruling on IRISL comes following the September 8 ruling against sanctions imposed on Iranian Offshore Engineering and Construction Company (IOEC) for its alleged links to Iran’s nuclear energy program.

Also on September 6, the court rejected sanctions imposed against eight Iranian banks and companies for the same reason.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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