EU implements UN de-listing of Bank Sepah

The EU has delisted Iran’s Bank Sepah and Bank Sepah International Plc (its UK subsidiary) from EU sanctions against Iran, following a UN Security Council decision to de-list the Bank from the UN sanctions list on 17 January 2016.

This followed the Bank’s de-listing request to the UN, and is separate from the de-listings resulting from the JCPOA. Bank Sepah was listed by the UN for being involved in Iran’s ballistic missile programme, by providing support for Aerospace Industries Group and its subordinates.  The change is made by Council Implementing Regulation (EU) 2016/74 implementing Council Regulation (EU) 267/2012 and Council Implementing Decision (CFSP) 2016/78 implementing Council Decision 2010/413/CFSP.

This entry was posted in Iran, Latest EU Measures, United Nations 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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