NITC to claim compensation for embargoes

The head of National Iranian Tanker Company (NITC) says the West has to make restitution for years of sanctions against the shipping giant.

NITC chief Ali Akbar Safaei said Wednesday that Western governments have, through their sanctions on the leading Iranian company, depraved the international maritime shipping services of one of the biggest capacities in the field, Mehr news agency reported.

Safaei highlighted NITC’s determination to pursue its rights through international legal channels, adding that the West must make reparation for the company’s losses as the sanctions are “politically motivated.”

NITC Sanctions

Last July, the Luxembourg-based General Court ruled there were no grounds to blacklist the NITC in the European bloc after the company contested the designation.

The EU’s second-highest court ruled against the sanctions imposed by the 28-nation bloc on the National Iranian Tanker Company for its alleged role in Iran’s nuclear energy program.

However, on February 12, the EU governments agreed to put the firm back on a list of sanctioned companies.

NITC is the biggest tanker company in the Middle East and 4th in the world, with a yearly transport capacity of 11 million tons.

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