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Removal of sanctions on NITC confirmed

(Sunday, July 6, 2014) 11:15

Tehran July 6 (Shana)—Managing Director of National Iranian Tanker Company confirmed reports saying the EU sanctions against the company have been annulled.

Ali-Akbar Safaei expressed hope that with sanctions removed, NITC will strongly return to European markets.
The General Court of the European Union on July 3 annulled sanctions imposed in 2012 on NITC by the European Commission, following more than a year of efforts by the company’s officials to prove that the reasons for imposition of sanctions were wrong, according to Safaei.                                                                                         
If the European Commission does not appeal against the ruling of the court in two months, NITC will be completely removed from the sanctions list, He said.
He said that the NITC used all its capacity to help exports of Iranian gas when all foreign tankers had abandoned Iranian waters due to Western sanctions on the country.
He expressed hope that under Iran's new administration and given its new policies towards the world, NITC could regain its status in the European markets.