India-Iran company liquidated as sanctions bite

Published April 11, 2013 12:41pm ET



NEW DELHI (AP) — India will get control of six ships following a decision to dismantle a joint Iranian-Indian shipping company hit by Western sanctions on Iran, a government official said Thursday.

The Irano Hind Shipping Company was finding it difficult to get customers or insurance for its ships because of the sanctions. Last week, the Indian government agreed to close down the 39-year-old joint venture.

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