Denmark's shipping major Maersk to comply with US sanctions on Iran

Source: ICIS News

2018/05/21

LONDON (ICIS)--Maersk is set to wind down its activities in Iran in response to the US breaking away from the nuclear deal with the country, with a timeline for withdrawal still to be determined, a spokesperson for the Denmark-based shipping major said on Monday.

The US is expected to reintroduce sanctions on Iran following a wind-down period for companies to get their affairs in the country in order.

National Security Adviser John Bolton stated earlier this month that European companies would have a maximum of six months to wind operations before being considered in violation of sanctions.

The forcefulness of the US’ position has raised questions over how meaningful the continued support European signatories to the Iran deal will be.

“The US has announced it will cease its participation in the Joint Comprehensive Plan of Action (JCPOA), and re-impose US sanctions on Iran following a wind-down period,” said a Maersk spokesperson.

“Maersk Line will comply with this US regulation, with a timeline to be decided. We will monitor the developments during the wind-down period and keep our customers directly informed about any changes,” it added.

Maersk currently serves customers in the Iranian market via a feeder service, utilising third-party vessels from Jebel Ali, Dubai, and through offices in Tehran, Bandar Abbas and Bushehr in the country, employing 12 people.

France-based oil major total recently announced that it would abandon its stake in a South Pars gas field play in the country, if it is unable to secure sanctions waivers from US authorities.