The example of an Iranian shipping firm underscores how sanctions may finally be biting against the country’s nuclear programme.
The crisis at the Fukushima nuclear power plant following the devastating earthquake and tsunami that wreaked havoc in north-eastern Japan has again thrown the spotlight on an industry that has always struggled for public acceptance. But the nuclear danger is also a reminder of the threat posed by rogue states that harbour atomic ambitions, including Iran.
Undermining Iran’s nuclear programme remains near the top of the US foreign policy agenda, and a change in strategy by the United Nations Security Council — at Washington’s behest — is being felt far and wide, particularly in East Asia. And while the new approach may not grab many headlines, it’s already showing some useful results.
In an effort to halt Iran’s controversial efforts by choking off the supply of materials, international focus has shifted to financial services and the world’s shipping lanes, which deliver goods Tehran needs to continue developing its nuclear programme.
Heading the list of targets is the Islamic Republic of Iran Shipping Lines (IRISL). The carrier boasts the biggest fleet in the Middle East, with about 170 vessels, but is struggling as banks foreclose on
mortgaged vessels, and as insurers refuse to underwrite the company’s operations.
IRISL ships were once a common sight in Asian ports, Hong Kong, Singapore, Thailand and in the Malaccan Straits dividing Malaysia and Indonesia. Its ships were among the biggest and newest to ply the waterways, and mostly transported goods supplied by Chinese companies.
David Albright, a US nuclear physicist who inspected Iran’s nuclear facilities for the UN’s atomic energy agency, says China is key to Tehran’s nuclear designs as a supplier of high strength maraging steel, specialty vacuum pumps, Kevlar and carbon fibre.
‘Over and over, Iran goes there to buy things,’ Albright said after the United Nations imposed the latest round of sanctions against Iran in June last year.
The United States and its allies argue Iran’s nuclear programme is a cover for weapons development, and sanctions are credited with hindering Iranian efforts to acquire materials used in centrifuges to enrich uranium to make a nuclear bomb. Tehran, for its part, denies the allegations, saying its nuclear industry is for electricity generation and civilian use, although few in the international community believe them.
Regardless of Iranian intentions, sanctions recently came to a head in Singapore, where a sheriff’s sale of three IRISL ships was organized after the vessels were seized.
The courts later released the ships, after IRISL found the cash to meet calls on loan repayments, and Chairman Mohammad Hossein Dajmar went on the offensive, rebuking Singapore and the banks for impounding his ships. ‘We had a loan and (the banks) changed it from a loan to a due payment because of sanctions…they committed a violation because the loan contract was signed before the sanctions,’ he said.
He also told the Financial Times that sanctions hadn’t hurt the company, insisting revenue for the eight months from March 2010 was up 40 percent, while shipping transactions were up 25 percent.
Photo Credit: Jean-Pierre Bazard
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qamar
Mr. Richard C.
I think Mr. John Chan is a gentleman like you leaving his comments on the issue which seems to be based on his own observations. World community cannot and must not ignore India's plans for supremacy if not in the world at least in the region. This may endanger not only the neighbors like Sri Lanka, Bangladesh, Pakistan & Myanmar but Australia too.
Richard C
Just who is this “John Chan” guy? What arm of the commie government are you working for John? The PLA? Look John, sooner or later the Communist system will be overthrown there in mainland China. The world is slowly waking up to Chinese plans for world economic domination. When tariffs collapse the export market the people will revolt. Where does that leave you John?
John Chan
Let’s look at the situation objectively.
1. USA, EU and Canada supply nuclear equipment and materials to a bellicose nation, India, which is bordering China. Both of those nations knowingly supply dangerous equipment and materials to a nation, which is guaranteed to use them for WMD production.
If we take the words from a CIA agent on the face value, China’s supplies to Iran are common to all nuclear energy programs. At the same time Iran is thousands miles away from the US, there are a sea and an ocean separating the two rivals.
India is NOT a party of NPT, possessing illegal nuclear weapons and long-range delivery systems. Meanwhile Iran is a party of NPT, does not possess nuclear weapons or long range delivery systems. Iran insists its right to peaceful use of nuclear energy.
USA, EU and Canada are not only the reckless nuclear weapon proliferators, they have the aim to cause harm to a peaceful nation, which is their biggest trading partner. China only wants to help an isolated nation to be self sufficient in energy supply, yet China is labelled world’s greatest proliferator. Is it the example of western style justice and fairness?
Twobit
@John chan. China and Iran aren’t innocent victims. Give us some eastern style examples of Chinese & Iranian justice and fairness?
John Chan
Voice for the weak against the bully, and help the disadvantaged to obtain nuclear energy for nation building.
John L Yoon
Canada “have the aim to cause harm to a peaceful nation, which is their biggest trading partner”
1. Canada has allowed China to invest huge amounts in acquiring stakes in many strategic resource areas of Canada, most notably, the Alberta Oil Sands
2. While America is still Canada’s largest trading partner, Canada is pushing to increase trade and improve relations in an already mutually beneficial tie between our two countries.
3. However, the Canadian people agree as a whole, China’s disregard for human rights and growing militarism is completely unacceptable to stability and prosperity of Asia and the world as a whole. Additionally, China should discontinue their practice of militarily, economically and diplomatically supporting tyrannical regimes such as those in Iran, North Korea and the African Continent.
Dan
Iran has all the rights to the nuclear energy. Iran is independent and will NOT get its orders from anyone…
Mike P
C’mon Dan. Do you really think they have good intentions?
JD
In the above article the most important is”David Albright, a US nuclear physicist who inspected Iran’s nuclear facilities for the UN’s atomic energy agency, says China is key to Tehran’s nuclear designs as a supplier of high strength maraging steel, specialty vacuum pumps, Kevlar and carbon fibre.”
The USA can’t do anything about the world’s greatest prolifilator,why waste time on smaller fish.
hetiyeti
I remember when the chinese could not make a primitave floging spanner,I bought an electric alarm clock about two years later one of the best i have had it as only just let me down, it was over thirty years ago when i bought it. But importors can rip a country apart. If i were the americans i would leave china alone.America have more importores than the uk. IF they can put stuff into space there metallurgy is up there with the best.