Torm Stops Taking Orders in Iran due to U.S. Sanctions

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(Image Courtesy: Torm)

Danish oil product tanker operator Torm (TRMDa.CO) on Tuesday said that it has stopped taking new orders in Iran as a consequence of U.S. plans to reimpose sanctions on Tehran.

“We follow the situation closely and always follow the rules. Therefore, we have also stopped taking new orders in Iran,” a spokeswoman told Reuters.

(Image Courtesy: Torm PLC)

Torm operates 79 oil product tankers worldwide. The United States last week withdrew from an international nuclear accord with Iran and announced renewed sanctions against the country.

While it is still unclear how U.S. sanctions will affect output from the third-largest OPEC producer, the move has helped oil prices rise.

(Source: Reuters)

Sea News, May 18