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Iran expecting some sanctions relief

Sanctions annulled, Iran says.
By Daniel J. Graeber   |   July 7, 2014 at 9:59 AM   |   Comments

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TEHRAN, July 7 (UPI) -- The company transporting Iranian crude oil to export markets should return to the European stage following an EU court decision last week, its director said.

Ali Akbar Safaei, managing director of the National Iranian Tanker Co., said his company should make a strong recovery following a ruling from the European courts last week.

"NITC could regain its status in the European markets," he said Sunday.

The General Court of the European Union said last week it "committed a manifest error of assessment and failed to discharge the burden of proof which rests on it" when imposing sanctions on certain Iranian entities tied to the nuclear sector.

The managing director said the ruling means EU sanctions against NITC are annulled.

NITC transports Iranian crude oil to export markets and is responsible for the distribution of oil products to Iranian ports.

"If the European Commission does not appeal against the ruling of the court in two months, NITC will be completely removed from the sanctions list," the managing director said.

Iran has secured some relief from Western sanctions imposed on its energy sector in response to its controversial nuclear sector.

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