UK PM prepares for Iran sanction lift

Historic sanctions imposed on Iran could be lifted as soon as January 18, 2016 under a nuclear deal, with the International Atomic Energy Agency due to report that Iran has fulfilled its nuclear settlement shortly, according to gCaptain.

David Cameron, Prime Minister of the UK, said: “Iran has granted the International Atomic Energy Agency unprecedented access to make sure it is doing all the things it said it would do in this deal.

“We should enter into it with a very heavy heart, a very clear eye and a very hard head in making sure this country does everything it said it would.”

Technical Paper: Iranian ports in the post-sanction era

Iran’s Deputy Foreign Minister Abbas Araghchi, Deputy Minister for Iran, said: “The Americans cannot have trade relations with us, and so be it. Iran and US relations will stay where they are — the intention of this deal hasn’t been about trust-building.”

The sanctions on Iran date back to the Cold War when the US imposed regulations to prevent Iran from progressing with its nuclear activities.

If and when the sanctions are lifted, it would help Iranian shipping to access billions in funding to purchase new containerships and boost trade in the region.

Maersk previously stated that it will be holding back on transporting goods to and from the country until the sanctions have been completely lifted.

Second-largest shipping line MSC recently began trading with Iran again after a six-year absence in a bid to transport essential commodities and smooth relations.

By Port Technology