NCRI – Foreign container shipping lines are giving up on business with the Iranian regime ahead of new U.S. sanctions in July, World Bulletin reports.
The U.S. National Defense Authorization Act (NDAA), which comes into effect on July 1, blacklists the Iranian regime’s shipping, shipbuilding, energy and ports management sectors. While it has an explicit exemption for food, medicine and other humanitarian goods, foreign shipping firms are pulling out to avoid falling foul of its provisions.
“Iran will become increasingly dependent on feeder services from nearby Gulf states for the import of its goods as major container shipping companies become ever more wary of transgressing against the numerous sanctions,” said Daniel Richards, with Business Monitor International (BMI).
Kuwait-headquartered United Arab Shipping Co (UASC), which is among the world’s biggest 20 container lines, said last month it had suspended all services to and from Iran.
