Maersk cuts shipments to Iran

Western European leaders are talking tough about Trump ditching the JCPOA. But European companies are not all talking tough. The Danish shipping giant Maersk is one of them. And if you cannot ship stuff in and out of Iran, you have a problem.

Danish shipping group Maersk Tankers on Thursday said it would cease its activities in Iran after Washington’s decision to leave the 2015 nuclear deal and reimpose sanctions against Tehran.

Maersk Tankers would honor 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 Agence France Presse.

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

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

President Donald Trump announced in early May that the US would withdraw from the agreement and reimpose sanctions against Tehran.

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