Azerbaijan, Baku, Sept. 25 / Trend, S. Isayev
Only rogue companies who regularly violate U.S. sanctions are likely to work with IRISL, UANI (United Against Nuclear Iran U.S. group) Communications Director Nathan Carleton told Trend.
Carleton was commenting on recent news about Iran's biggest shipping line, IRISL, having sanctions against it lifted by the Court of Justice.
According to the court's decision, the EU has not provided evidence of its complicity in the alleged Iranian program to develop nuclear weapons.
Carleton said that U.S. sanctions have a powerful effect on companies all around the world, given the American connections and exposure most all companies have, thus a lot of companies would not want to risk too much by dealing with IRISL.
"This decision (lifting of sanctions on IRISL) is troubling, and counterproductive to the international movement to isolate Iran," Carleton said. "It might be superficially good for the Iranian regime, however, its substantive impact should be negligible."
"For starters, the decision is being appealed and may not stand. More importantly, IRISL, like Iran's entire shipping and port sectors, is still designated by the United States. Even if EU businesses are able to transact with IRIRSL, they are unlikely to do so out of fear of running afoul of US regulators," Carleton believes.
After the news on lifting the sanctions on IRISL came out, Iran's Sharqh newspaper wrote that the decision won't do any good for Iran since IRISL not only responsible for only 25 percent of shipping to Iran. Another problem, according to the newspaper, is that IRISL is bounded with Tidewater Middle East Co. - another shipping company that is still under sanctions, and it doesn't work with anyone else.
"IRISL's connection to Tidewater is another reason why this decision shouldn't drastically affect the overall pressure that the Iranian shipping sector is dealing with," Carleton underscored.
Prior to the decision on IRISL, the European court overturned the freezing of assets imposed on seven Iranian financial institutions and other companies.
By the resolution of the court assets of the banks Post Bank Iran, the Export Development Bank, Persia International Bank and Bank Refah Kargaran are being unfrozen, as well as insurance company Iran Insurance Company, a shipping company Good Luck Shipping and Construction Company Iranian Offshore Engineering & Construction.
Carleton said the banking sanctions and pressure have indeed been devastatingly effective in isolating the regime from the rest of the world.
"Two years ago, Iran's Central Bank was not even sanctioned by the U.S., and today, not only Iran's Central Bank, but other major Iranian banks are sanctioned by the U.S. and EU, and cut off from the vital SWIFT system," he said.
Carleton went on to note that such developments have contributed greatly to the freefall of the rial, and are a key reason why the regime is searching for sanctions relief.
"The pressure can still increase too - UANI continues to call on SWIFT to sever ties with all Iranian banks, not just those that are sanctioned by the EU," Carleton underscored.
Governments in Europe and the United States are hoping sanctions against companies will make it more difficult for Tehran to fund its nuclear program, which they fear is designed to give Iran the capability to build bombs.
Iran denies having such intentions and says it needs nuclear power for energy generation and medical research.
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