No Problem with Iranian Tankers’ Insurance in Europe

Zamaninia told Shana that National Iranian Tanker Company (NITC) was discarded from the sanctions list following implementation of the Joint Comprehensive Plan of Action (JCPOA).

He said the NITC goes on with its activities as usual.

The NITC lodged complaint at the Court of Justice of the European Union against the 2012/635 statute of the European Union Council. Hence, the EU Court ruling on July 3, 2014, was issued in favor of the NITC and the European Union Council did not ask for appeal to the court ruling. However, on February 12, 2015, it kept the NITC in the list of EU sanctions on new grounds and per the 2015/236 decision.

Zamaninia said the NITC is now in efforts to prove that it has been subject to sanctions without any justification. “This is related to a period before the JCPOA implementation and is legal in nature.”

The NITC again on April 24, 2015, lodged complaint against the European Council 2015/236 decision and one month ago, i.e. on September 14, 2016, the EU court ruled against the NITC. The company is to lodge defense in that case by end of November.

The ruling in practice  has no impact on the NITC status because based on the JCPOA, the name of the NITC has been removed from the executive regulations of the EU sanctions on Iran.

Based on general legal principles, no court is entitled to devise any regulation in connection with sanctions.