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Denmark's Maersk Tankers ends Iran shipping after US reimpose sanctions

AFP  |  Copenhagen 

Danish shipping group Tankers today said it would cease its activities in due to the US's decision to leave a landmark nuclear deal and reimpose sanctions against

Tankers would honour customer agreements entered into before May 8, but then wind them down by November 4, "as required by the re-imposed US sanctions," the company told AFP.

A former subsidiary of the Danish group AP Moller-Maersk, Tankers was in October 2017 sold for USD 1.17 billion to APMH Invest, a subsidiary of the investment A.P. Moller Holding.

The nuclear deal, reached in July 2015 between and Germany, China, the US, France, Britain and Russia, called for to freeze its nuclear programme in exchange for getting some international sanctions against the Islamic Republic lifted.

announced in early May that it would withdraw from the agreement and reimpose sanctions against

Iran's amounted to one million barrels a day, mostly to and some European countries, before sanctions were lifted. They have since climbed to 2.5 million barrels.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 17 2018. 16:05 IST