India releases detained Iranian ship

Photo: India releases detained Iranian ship / Iran

Baku, Azerbaijan, March 28

By Umid Niayesh, Saeed Isayev - Trend:

India has released Iranian ship "Dianthe", which was being held in Mumbai port for the last two years, Iran's IRNA news agency reported on March 28.

The Iranian ship, which is owned by Islamic Republic of Iran Shipping Lines (IRISL) was detained in 2012 for non-payment of dues to a Singapore-based bank by the Mumbai High Court.

Dianthe was affected by the sanctions on Islamic Republic of Iran Shipping Lines. As a result, financial transaction related to the purchase of the ship from its original owner could not be completed.

Thus, Nordbank AG - the bank involved in the transaction over the vessel - was on the lookout to initiate legal action.

The Iranian ship has been released as a result of negotiations of Iranian foreign minister, Mohammad Javad Zarif with senior Indian officials last month, the report said.

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