Azernews.Az

By Sara Rajabova

National Iranian Tanker Company (NITC) has started negotiations with domestic and international maritime transportation companies with the aim of boosting oil exports.

The move was made following the breakthrough in Geneva talks between Iran and six world powers.

NITC's managing director Ali Akbar Safae said the accord to facilitate issues is linked with insurance and shipping, Shana news agency reported.

The text of the action plan signed in Geneva, which suggests some softening on sanctions against Iran, does not clearly refers to the ways of removing sanctions pertaining to shipping industry, but the company welcomes any practical agreements which facilitate shipping services, Safae added.

"It is expected that ongoing common measures and Foreign Ministry initiatives pave the way for clarification and enforcement of the Action Plan," Safae said.

He said maintaining Iran's oil exports at current levels, suspending the U.S and EU sanctions on insurance and transportation of oil cargos, and lifting sanctions on petrochemical exports and its related services including insurance, finance and transportation are part of the deal between Iran and P5+1.

NITC transports Iranian crude oil to export markets and is also responsible for the distribution of oil products to Iranian ports, island ports, and islands located in the Persian Gulf.

The company, which operates the largest tanker fleet in the Middle East, also acts as an independent entity in contracts with foreign companies for crude oil transportation based on prevailing international freight rates.