Iran Economy NewsIran confirms seizure of three ships in Singapore, Arman...

Iran confirms seizure of three ships in Singapore, Arman says

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Bloomberg: Three Iranian ships were seized several days ago in Singapore waters in a move linked to financial sanctions against Iran over the country’s nuclear program, Arman reported, citing the Islamic Republic of Iran Shipping Lines Managing Director.

Bloomberg

By Ladane Nasseri

Three Iranian ships were seized several days ago in Singapore waters in a move linked to financial sanctions against Iran over the country’s nuclear program, Arman reported, citing the Islamic Republic of Iran Shipping Lines Managing Director.

Mohammad-Hossein Dajmar, the company’s head, rejected reports that the seizure is due to Iran’s failure to pay back a loan received from a French bank, the newspaper said.

He did not name the bank or elaborate on the reasons for the ships’ seizure, which he said took place “over” three days ago, Arman said.

The three ships, named Sabalan, Sahand and Tochal do not have any cargo, Dajmar said. Negotiations are ongoing with the French bank to settle the matter, he told the newspaper.

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