Apr 102010
 

~WSJ

Iran’s state shipping company has changed the names and ownership of most of its vessels to evade U.S. sanctions, but the Treasury Department has yet to update the blacklist that U.S. companies use to verify they are in compliance, according to a new report.

As a result, some firms are at risk of doing business with the company, Islamic Republic of Iran Shipping Lines, despite a ban that has been in place since 2008, says the report by the Wisconsin Project on Nuclear Arms Control, a Washington-based nonprofit watchdog.

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