Oct 28, 2013, 1:47 PM
News Code: 80878463
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Sanctions against Iran Insurance Co to be lifted soon

Tehran, Oct 28, IRNA - Chairman of Iran Insurance Company (IIC) Javad Sahamian Moqaddam said here Monday the EU’s General Court has lifted the bloc’s sanctions against the company.

Talking to IRNA, he reiterated that the ruling will be sent back to the EU court of appeals next week and the sanctions would be lifted against the IIC soon.

The EU top court ruled to remove the IIC from its sanction list two weeks ago, he said, adding the company has also presented its defense bill to the bloc.

The IIC has been under EU sanctions in recent years based on unfounded claims and in line with a politically-motivated policy against Iran, the official added.

Once the sanctions totally lifted, the IIC will resume its insurance activities outside the country, he said, stressing that the company is following up the verdict of EU court of appeals.