NITC ready to return to Europe’s oil market

TEHRAN, Oct. 26 (MNA) – National Iranian Tanker Company (NITC) has announced its readiness to return to Europe’s market of maritime transportation of oil by the removal of sanctions.

Currently, Iranian tankers, with an annual capacity of over 130 million barrels of crude oil, are fully ready to serve the country’s oil industry if oil export reaches one million barrels per day during the post-sanction period. 

Accordingly, the international affairs of NITC, in a recent statement, has welcomed the implementation of JCPOA as well as Europe and America’s orders on lifting the sanctions announcing “Iranian tankers are more than ever ready to resume their activities in European markets without any interruption.”

NITC was added to the sanctions list in 2012 by Europe and America as well as again in 2015 by the EU; however, with the entry of new vessels over the past few years, Iranian tankers have formed the largest oil-carrying fleet in Middle East.

“Various negotiations have been made with foreign companies, mainly European one on issues like resumption of cooperation as well as insurance which will become effective by the lifting of sanctions,” NITC announced.

The National Iranian Tanker Company has further noted, “according to JCPOA’s emphasis on shipping sanctions and the presence of NITC in Annex 2 of JCPOA, as well as the recent order of Europe and America to remove sanctions against Iran, it is estimated that NITC will be officially removed from the sanctions list in time with the implementation of JCPOA.”

 

HA/2949481

 

News Code 111362

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