Negotiations Begin for the Return of Iranian Tankers to Europe

The CEO of the National Iranian Tanker Company announced the 'beginning of negotiations' with European countries for the return of the company's tankers to European oil terminals. According to Mehr News Agency, Ali Akbar Safaei stated on Sunday, April 5, that the National Iranian Tanker Company has made necessary arrangements with European countries for the transfer of crude oil and movement in the ports of all countries in anticipation of nuclear negotiations and the potential lifting of sanctions. He added, 'To realize this plan, we are waiting for the signing of the final agreement and the determination of the time and manner of the complete lifting of sanctions.' Safaei mentioned that the nuclear agreement between Iran and the 1+5 countries in Lausanne will be effective in 'determining and outlining the path' for Iran's tanker fleet to enter international markets and pursue the lifting of sanctions. Based on the agreement, the European Union will end economic and financial sanctions related to Iran's nuclear program, and the United States will halt the implementation of secondary financial and economic sanctions related to the nuclear issue, simultaneously with the fulfillment of Iran's major nuclear commitments, as verified by the International Atomic Energy Agency. However, U.S. Secretary of State John Kerry emphasized that if Tehran does not act according to the agreement, sanctions will be reimposed. Meanwhile, according to Iranian Foreign Minister Mohammad Javad Zarif, the United States is obligated to lift sanctions against Iran following the UN Security Council resolution. The National Iranian Tanker Company, which has the largest tanker fleet in Iran, is on the U.S. sanctions list. The European Union also sanctioned this company since October 2012, arguing that it aided Iran's nuclear program. However, after Iran's complaint to the General Court of the European Union in Luxembourg, this court issued a ruling to lift the sanctions against the company in July 2014. Nevertheless, the High Court in London rejected the National Iranian Tanker Company's request to prevent its return to the EU sanctions list in February 2015. Ultimately, the EU reinstated the company's name on its sanctions list in the final months of last year, which complicated the company's ability to obtain insurance and participate in global transactions as before. Mohammad Javad Zarif stated that discussing the violation of the Geneva agreement due to the re-sanctioning of the National Iranian Tanker Company is not relevant and emphasized that these sanctions are a repetition of previous sanctions. The EU accused the National Iranian Tanker Company of being affiliated with government entities, but the company claims it is private and has no connection with the government or entities like the Revolutionary Guards. In this context, Iran has stored '30 million barrels of oil' in the waters of the Persian Gulf.