Shipping Companies Refuse to Transport Cargo to Iran Because of US Sanctions

Large shipping companies have already begun to reduce the volume of freight traffic to Iran, despite the fact that US sanctions against the Islamic Republic will take effect in a few months. This was reported on Tuesday by the newspaper “Wall Street Journal”.

According to her, two of the world’s largest container lines, the Danish Maersk Line and the Swiss MSC, said they are rolling out general transport. “I do not think that any global shipping company will be able to conduct business in Iran if the sanctions will work in full force,” said Soren Scow, CEO of Maersk Line. “Wall Street Journal” notes that his company delivers to the Islamic Republic a wide range of goods – from consumer goods to machinery.

New US sanctions will have a negative impact on owners of tankers who are already thinking about sending their vessels to other countries in the region. According to the newspaper, if Iran disappears from the map of tanker shipments, it will deal a severe blow to operators who risk being left without the world’s fifth-largest oil producer. Tehran in April exported a record 2.6 million barrels of black gold a day – mainly to India, China, South Korea and Japan. In connection with the sanctions, shipowners in China already expect the drop in deliveries to be more than double the current level.

The American administration gave the shipping companies time until November of this year to complete all operations in Iran. The publication emphasizes that the new sanctions “will affect ship insurance premiums, providing loans to carriers and fuel suppliers for Iranian vessels.”

US President Donald Trump on May 8 announced the withdrawal of Washington from a nuclear deal with Iran. The agreement concluded in 2015 by five permanent members of the UN Security Council and Germany with the IRI, provides for the gradual elimination of the nuclear program of the Islamic Republic in exchange for the abolition of economic sanctions.

Shipping Companies Refuse to Transport Cargo to Iran Because of US Sanctions

Refusing this agreement, Trump threatened not only to return the old ones, but also to introduce new restrictive measures against Tehran.



Source: Maritime News of Russia