IRISL eyes London IPO, but is thwarted so far

According to Reuters, the Islamic Republic of Iran Shipping Lines (IRISL), once more trading between the country and Europe following the removal of economic sanctions, now appears to be trying to organise a listing on the London Stock Exchange. However, the continuing presence of US sanctions, as well as suggestions from the new administration of Donald Trump that they are likely to remain in place, and possibly added to. “Experts on sanctions say any Iranian IPO in London would run up against the impact of the remaining US measures, which have deterred UK-based banks from clearing payments or facilitating transactions for Iranian companies.” IRISL itself was subject to a number of sanctions – which have subsequently been lifted – due to accusations that it had carried materials banned for shipment under nuclear proliferation rules.