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.
The ruling was announced by the court on Monday, the Fars News Agency quoted Mohammad Hossein Dajmar as saying. 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.  “Following the imposition of unilateral and illegal sanctions by the European Union, the Islamic Republic of Iran Shipping Lines took advantage of its experienced attorneys to annul the sanctions. After months of effort, the European Court of Justice ruled against the sanctions on Monday,” Dajmar explained. On September 6, a European Union court ruled that the EU should lift sanctions it imposed against seven Iranian companies, namely Post Bank Iran, Iran Insurance Company, Good Luck Shipping, Export Development Bank of Iran, Persia International Bank, Iranian Offshore Engineering and Construction Company, and Bank Refah Kargaran.