Exclusive: Saudi-backed shipping line UASC resumes Iran business | Reuters:
"United Arab Shipping Company is resuming business with Iran following the lifting of Western sanctions, despite the deep-seated political rivalry between the Islamic Republic and Saudi Arabia, one of the shipping line's main shareholders.
A nuclear deal between world powers and Iran led to the removal on Saturday of international oil export prohibitions as well as restrictions on banking, insurance and shipping.
Sunni Muslim Saudi Arabia has grave reservations about the lifting of sanctions on its main regional rival, with which it cut ties earlier this month after its Tehran embassy was attacked following Riyadh's execution of a Shi'ite cleric."
'via Blog this'
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