15 September 2013
ECJ: EU must unfreeze assets of Iranian banks and companies
The General Court of the European Union held that the European Union must unfreeze the funds of a number of Iranian banks, companies and one individual that were hit by EU sanctions, aimed at restraining Iran’s nuclear programme.
The Court held that there was not enough evidence that these banks and corporations were involved in nuclear proliferation. Asset freezes imposed on two banks (e.g. Bank Melli Iran, Iran’s biggest bank) were however found to be justified by the Court.