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EU COURT ANNULS SANCTIONS ON IRANIAN BANK MELLAT
http://www.presstv.ir/detail/2013/01/30/286378/eu-court-annuls-ban-on-iran-bank-mellat/
Wed Jan 30, 2013 2:14PM
Europe's highest court has annulled the European Union (EU) sanctions
imposed against the Iranian Bank Mellat two and a half years ago.
"After two and a half years of intense legal work to lift the [EU]
sanctions on the bank, [the European] Court [of Justice] has ruled in
favor of Bank Mellat," Managing-Director of Bank Mellat Ali Divandari
said on Wednesday.
"The Court has also required the [European] Union to cover the costs
of [legal] procedures...and found Bank Mellat deserving of receiving
all legal expenses as well as compensation from the EU for losses
incurred because of these sanctions," he added.
Divandari said vague reasons were used by the EU in July 2010 to
impose sanctions against Bank Mellat.
"Given the unanimity-based laws governing the European Court of
Justice, I am confident that this outcome will positively affect
the legal action taken by other banks and economic institutes of the
country," he said.
In December 2012, the Luxemburg-based court had ordered the EU to
lift its sanctions against Iranian private bank, Sina.
At the beginning of 2012, the United States and the EU imposed
sanctions on Iran's oil and financial sectors with the goal of
preventing other countries from purchasing Iranian oil and conducting
transactions with the Central Bank of Iran. The sanctions entered
into force last summer.
On October 15, 2012, the EU foreign ministers reached an agreement
on another round of sanctions against Iran.
The illegal US-engineered sanctions were imposed based on the
unfounded accusation that Iran is pursuing non-civilian objectives
in its nuclear energy program.
Iran rejects the allegation, arguing that as a committed signatory to
the Non-Proliferation Treaty and a member of the International Atomic
Energy Agency (IAEA), it has the right to use nuclear technology for
peaceful purposes.
http://www.presstv.ir/detail/2013/01/30/286378/eu-court-annuls-ban-on-iran-bank-mellat/
Wed Jan 30, 2013 2:14PM
Europe's highest court has annulled the European Union (EU) sanctions
imposed against the Iranian Bank Mellat two and a half years ago.
"After two and a half years of intense legal work to lift the [EU]
sanctions on the bank, [the European] Court [of Justice] has ruled in
favor of Bank Mellat," Managing-Director of Bank Mellat Ali Divandari
said on Wednesday.
"The Court has also required the [European] Union to cover the costs
of [legal] procedures...and found Bank Mellat deserving of receiving
all legal expenses as well as compensation from the EU for losses
incurred because of these sanctions," he added.
Divandari said vague reasons were used by the EU in July 2010 to
impose sanctions against Bank Mellat.
"Given the unanimity-based laws governing the European Court of
Justice, I am confident that this outcome will positively affect
the legal action taken by other banks and economic institutes of the
country," he said.
In December 2012, the Luxemburg-based court had ordered the EU to
lift its sanctions against Iranian private bank, Sina.
At the beginning of 2012, the United States and the EU imposed
sanctions on Iran's oil and financial sectors with the goal of
preventing other countries from purchasing Iranian oil and conducting
transactions with the Central Bank of Iran. The sanctions entered
into force last summer.
On October 15, 2012, the EU foreign ministers reached an agreement
on another round of sanctions against Iran.
The illegal US-engineered sanctions were imposed based on the
unfounded accusation that Iran is pursuing non-civilian objectives
in its nuclear energy program.
Iran rejects the allegation, arguing that as a committed signatory to
the Non-Proliferation Treaty and a member of the International Atomic
Energy Agency (IAEA), it has the right to use nuclear technology for
peaceful purposes.