Denmark’s Maersk Tankers ends Iran shipping after US reimpose sanctions

Denmark’s Maersk Tankers ends Iran shipping after US reimpose sanctions
A cargo ship owned by Maersk arrives into New York harbor on April 9, 2018 in New York City. (AFP)
Updated 17 May 2018

Denmark’s Maersk Tankers ends Iran shipping after US reimpose sanctions

Denmark’s Maersk Tankers ends Iran shipping after US reimpose sanctions
  • Maersk Tankers would honour customer agreements entered into before May 8, but then wind them down by November 4, as required by the re-imposed US sanctions
  • The nuclear deal, reached in July 2015 between Iran and Germany, China, the US, France, Britain and Russia, called for Tehran to freeze its nuclear programme in exchange for getting some international sanctions lifted

COPENHAGEN: Danish shipping group Maersk Tankers on Thursday said it would cease its activities in Iran due to the US's decision to leave a landmark nuclear deal and reimpose sanctions against Tehran.
Maersk Tankers would honour customer agreements entered into before May 8, but then wind them down by November 4, "as required by the re-imposed US sanctions," the company told AFP.
A former subsidiary of the Danish maritime group AP Moller-Maersk, Maersk Tankers was in October 2017 sold for $1.17 billion to APMH Invest, a subsidiary of the investment A.P. Moller Holding.
The nuclear deal, reached in July 2015 between Iran and Germany, China, the US, France, Britain and Russia, called for Tehran to freeze its nuclear programme in exchange for getting some international sanctions against the Islamic Republic lifted.
Washington announced in early May that it would withdraw from the agreement and reimpose sanctions against Tehran.
Iran's oil exports amounted to one million barrels a day, mostly to Asia and some European countries, before sanctions were lifted. They have since climbed to 2.5 million barrels.