All tagged NordLB

Iran Sanctions Breach Suspicion Prompts Bank to Seize Ships

◢ Reports alleging that fuel tankers appeared to breach U.S. sanctions against Iran were cited in court filings by a bank as it sought to seize the ships, accusing the owners of loan default. The accusations, which led to the the temporary arrest of the vessels in Singapore late last month, come as the U.S. seeks to isolate the regime in Tehran by cutting off oil sales, a major source of revenue.