Moller-Maersk shipping giant halts all Iran operations
search

Moller-Maersk shipping giant halts all Iran operations

World's largest container shipping company cites nuclear program sanctions, inability to conduct business with Islamic Republic

The container ship Olga Maersk, operated by A.P. Moller-Maersk Line of Denmark (photo credit: CC BY L2F1, Flickr)
The container ship Olga Maersk, operated by A.P. Moller-Maersk Line of Denmark (photo credit: CC BY L2F1, Flickr)

COPENHAGEN, Denmark (AP) — Danish shipping group A.P. Moller-Maersk says it has halted all Iran operations because of international sanctions over Iran’s suspect nuclear program.

The world’s largest container shipping company says it is no longer possible for Maersk Line to do business in Iran because the sanctions target oil exports, banking and other sectors. Maersk said in a brief statement Tuesday that it would cease operations “for the foreseeable future.”

Last year, Maersk stopped sailing to three Iranian ports because of Western sanctions.

The UN Security Council has imposed four rounds of sanctions aimed at curtailing Iran’s nuclear program, which Iran maintains is peaceful. The US and the EU have also hit the Islamic Republic with sanctions, targeting vital oil exports and cutting off access to international banking networks.

Copyright 2012 The Associated Press

read more:
comments