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Noose tightens around IRISL with latest UN sanctions

Noose tightens around IRISL with latest UN sanctions

New York: The U.S. announced a long-sought deal with Russia and China yesterday on a new list of sanctions to punish Iran for its nuclear program, and the United Nations took them up within hours, in a move to reassert control of nuclear diplomacy after Tehran tried to pre-empt sanctions a day earlier. Among the measures Iran's containerline, IRISL, is to be subjected to far greater scrutiny.
The proposed sanctions list includes a prohibition of sales on a wide range of conventional weapons - from fighter planes to missile systems - as well as a ban on countries from providing harbour to ships suspected of carrying contraband goods headed to Iran.
The U.S. initially hoped to blacklist two of Iran's major transportation companies, the state-owned Islamic Republic of Iran Shipping Lines and IranAir Cargo. The current draft, however, calls for closer scrutiny of the companies' operations.
In recent months, important insurance clubs in the U.K and Bermuda have ceased doing business with IRISL, the Wall Street Journal reported. [19/05/10]

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