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October 27, 2013

European governments likely to re-impose sanctions on IRISL

European governments are likely to re-impose sanctions on the Islamic Republic of Iran Shipping Lines (IRISL), following the verdict by Luxembourg-based General Court to lift the restrictions.

By admin-demo

European governments are likely to re-impose sanctions on the Islamic Republic of Iran Shipping Lines (IRISL), following the verdict by Luxembourg-based General Court to lift the restrictions.

The sanctions were originally imposed when European and the US governments found that hundreds of Iranian companies, including IRISL, were involved in supporting Tehran’s nuclear programme.

The General Court ordered to lift the sanctions as the EU failed to provide enough evidence linking the companies to Iran’s nuclear work.

"We will give notice to the companies that if they have information that would affect the decision, they should submit it."

The decision to re-impose sanctions is an effort by EU to counter a number of such court rulings against European sanctions.

Diplomats told Reuters that the governments had agreed this week to send letters to IRISL and some of its subsidiaries to inform them of their intention.

"We will give notice to the companies that if they have information that would affect the decision, they should submit it," EU source said. "It is a notice."

According to the source, the EU would use any response from the targeted companies to decide how to formulate new sanctions, which would freeze the company’s assets in Europe.

Meanwhile, Iran has denied any intentions of military initiatives and addressed the need for nuclear power to generate electricity and for medical purposes.

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