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Weapons of Mass Destruction (WMD)

Iran's insurance industry defeats western sanctions

IRNA - Islamic Republic News Agency

Tabriz, East Azarbaijan prov, Sept 11, IRNA -- Iran's insurance industry has defeated US sanctions despite Washington's will to give a crushing blow to Tehran, Director of Iran's Central Insurance Mohammad Karimi said Tuesday.

Speaking in this northwestern provincial capital city, Karimi said US had thought it could make a great achievement by imposing sanctions on Iran's insurance industry.

However, he said, the Iranians proved that nothing would bring them down.

The US sanctions targeted Iran's insurance industry in the past two years but the Iranian insurance companies escaped the sanctions forming a coherent consortium, Karimi explained.

He added Iran's insurance industry is presently capable of covering all vessels coming to the country's territorial waters.

Islamic Republic News Agency/IRNA NewsCode: 1027377

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