The U.S. State Department announced on Friday April 12 that three companies from Singapore, Monaco and Liberia will no longer face U.S. sanctions after making commitments not to transport Iranian oil exports.
In 2010, the three companies were involved in a deal that saw the Islamic Republic purchase an oil tanker for more than $8.5 billion.
The U.S. State Department reports that the companies were blacklisted in May of 2011, and since then they have carried out their business in compliance with U.S., thereby earning this new exemption.
AP reports that the preliminary blacklist had included an Israeli company that was also said to have been involved in the tanker deal, but the U.S. State Department changed the list, insisting the Israeli company had played no part in the purchase.
The Islamic Republic Shipping Company has been under sanctions by other Western countries and the United Nations. According to U.S. sanctions, the inspection of Iranian ships is permitted if there is any suspicion that they may be carrying arms or military shipments, especially if they’re linked to Iran’s nuclear program.