The finance and economic affairs ministry of Iran has issued an order for setting up an international insurance company aiming to overcome global sanctions in this field, the managing director of Iran Insurance Company said here on Sunday.
Javad Sahamian-Moqaddam added that legal and individual entities which are interested in playing a role in Iran's economy are permitted to have a share in the company.
On 26 July, the European Union imposed sanctions on Iran, hitting the energy, transport, finance and insurance sectors, as well as expanding the number of "listed" individuals and entities with whom commercial dealings are prohibited.