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The IRISL, which carries an estimated one third of the country's dry bulk and container seaborne trade, faced European Union sanctions for its alleged role in smuggling banned weapons.

September 17th, 2013 - 04:55 GMT

EU court revokes sanctions against Iranian shipping line

The European Court of Justice has annulled sanctions imposed by the European Union against the Islamic Republic of Iran Shipping Lines (IRISL), the IRISL managing director announced on Monday.