BANK TEJARAT WINS APPLICATION TO ANNUL ITS EU SANCTIONS LISTING

Bank Tejarat, an Iranian bank, has had its listing on the EU’s sanctions relating to Iran annulled by the General Court (First Chamber), in Case T-176/12 Bank Tejarat v Council (link to the judgment is here).

The Bank has been listed since 2012 on the grounds that it is a State owned bank that has facilitated Iran’s nuclear programme in various ways.  The Bank denied all of these allegations (including majority State ownership) and the Court held that the Council had not provided any evidence to substantiate the allegations against the Bank.  The Court has maintained the sanctions on Bank Tejarat for 2 months to permit the Council to remedy these defects if it should seek to do so.

This entry was posted in European Court Cases, Iran by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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