EU excludes Iran Insurance Co. from sanctions

TEHRAN, Oct. 26 (MNA) – Iran Insurance Company CEO has said EU grants exclusion to the company from sanctions, “due to our defenses made in court.”

Javad Sahamian Moghadam told Mehr News that the company left no stones unturned to have sanctions eliminated, among other things, one being the claim that it was a public fund to which people entrusted their money to be provided for them in the time of damage.

“The court of appeal will examine our documents and defenses in the near future,” he added, saying that “Iran Insurance Co. has an effective role in its covering of large part of industries.”

Sahamian Moghadam also said that the company was very active in terms of providing economic guarantees, based on cooperative principle, and people’s investments are entrusted in our fund, awaiting provision to them when they undergo damage.

“There was no pretext for the EU to sanction the Insurance Company,” he asserted, pointing out that sanctions discredited LCs insured by Iran Insurance Company in the view of other countries, but now with the sanctions eliminated, “our company would insure LCs in different fields including transportation.”

“In face of the sanctions, we managed to tackle them, thus preventing much damage to the insurance industry, and attaining significant growth in the sector,” he added.

By Mehr News Agency


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