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EU Court Deals Blow To Iran Sanctions

September 06, 2013

A top European Union court has ruled that the EU should unfreeze the assets of seven Iranian banks and other businesses hit by sanctions.

The European Court of Justice said on September 6 there was not sufficient evidence that the businesses concerned were involved in Iran’s disputed nuclear program.

The Luxembourg-based tribunal said the sanctions will stay in place for at least two months pending any appeal.

The businesses affected include the Post Bank Iran, the Iran Insurance Company, and the Export Development Bank of Iran.

The EU and the United States have imposed asset freezes and travel bans on top of UN sanctions, targeting Iranian citizens and companies believed to be linked to the country's nuclear program.

Based on reporting by AP and the BBC

Source: http://www.rferl.org/content/europe-court-iran-sanctions/25098000.html

Copyright (c) 2013. RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave., N.W. Washington DC 20036.