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E.U. lifts sanctions on Iranian insurer

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Moallem Insurance Co.'s chief, Mohammad Ebrahim Tahsiri, said the General Court of the European Union has lifted sanctions against the Iranian insurer for its risk coverage of Iran's oil tankers, Press TV reported.

The move will allow the insurer to offer coverage for tanker vessels operated by the Islamic Republic of Iran Shipping Lines, Mr. Tahsiri said. The sanctions were imposed by the Western countries two years ago, he added.

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