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The re-listing of two Iranian banks were upheld by the EU General Court


The EU General Court, has upheld the re-listings of the Export Development Bank of Iran and Bank Refah Kargaran by the EU, the original targeted sanctions of which were annulled by the Court in September 2013.

The Court’s judgments were on the grounds that the EU Council had demonstrated, on its new criterion of targeted sanctions (i.e. support for the Government of Iran), that the banks provide financial support of a sufficiently important kind to the Government of Iran to justify their designation. As in past cases, the Council did not have to show that the financial support provided by the two banks, was itself directly related to Iran’s nuclear programme, but rather that it was “quantitatively or qualitatively” significant.

The re-listing judgments of Export Development Bank of Iran and Bank Refah Kargaran are linked to here.

keywords : Bank Refah Kargaran , EU General Court , EU re-listing of Iran Banks , EU Sanctions , Export Development Bank of Iran , Sanctions ,