igPic
IRISL operating 164 ships in international waters despite sanctions
5/13/2013 11:19:14 AM
Sanctions which hit the country’s national shipping industry made the private sector to become more active in this field, the Fars News Agency quoted him as saying on Sunday.
 
However, the sanctions dropped the IRISL revenues by half to below $1 billion, he said.
 
Dajmar said that international sanctions have helped Iran break Europe’s “monopoly” on the shipping insurance industry.
 
"The sanction imposed by the foreign insurance firms made U.S. launch Iranian insurance of P&I and this has been gifted to U.S. by the sanctions," Dajmar said.
 
"Before this, the Europeans had the monopoly of shipping insurances and a few number of countries owned the insurance firms and coverage but we have now succeeded in starting Iranian shipping insurance through government's cooperation," he added.
 
In July 2012, Iran called back seven of its 10 tankers working in European Union, Mehr News Agency reported, saying this step is Iran's way of applying sanctions against the Union.
 
An Iran National Oil Company's official told Mehr anonymously that Iran's 10 super tankers have been sailing in EU, but recently seven of them have been called back to Iran from Mediterranean Sea to the Persian Gulf.
 
"There is a need for more tankers to ship Iranian oil to international markets, but because of sanctions, they have to avoid some countries to ship Iranian crude oil," he said.