Shipping Giant to cease Iran Business

By John Lee.

Danish shipping giant AP Moller-Maersk has said it will cease operations in Iran following the reimposition of US sanctions.

Chief Executive Soren Skou is quoted as saying:

“With the sanctions the Americans are to impose, you can’t do business in Iran if you also have business in the U.S., and we have that on a large scale … I don’t know the exact timing details but I’m certain we’re also going to shut down in Iran.”

The company, the world’s largest shipping operator, resumed operations in Iran in late 2016, and subsequently expanded operations.

(Sources: Reuters, The Telegraph)

No comments yet.

Leave a Reply