Iran shipping company rejects US indictments

Iran's state shipping line rejected on Tuesday the latest US indictments against it, saying the move was another attempt by Washington to damage the Islamic Republic's economy, state television reported.

US prosecutors took aim at the state-sponsored Islamic Republic of Iran Shipping Lines, known as IRISL, on Monday, indicting several companies and individuals for helping the blacklisted firm's suspected weapons proliferation activities by allegedly falsifying bank records. The Manhattan District Attorney's Office said IRISL used bogus companies to dupe New York-based banks into processing wire payments totalling more than $60 million. (Reuters)