EU to pay compensation to Iranian bank

EU to pay compensation to Iranian bank
# 31 January 2013 11:07 (UTC +04:00)

Baku. Konul Jafarli - APA. Europe's highest court has annulled the European Union (EU) sanctions imposed against the Iranian Bank Mellat two and a half years ago.

“After two and a half years of intense legal work to lift the [EU] sanctions on the bank, [the European] Court [of Justice] has ruled in favor of Bank Mellat,” Managing-Director of Bank Mellat Ali Divandari said on Wednesday.

“The Court has also required the [European] Union to cover the costs of [legal] procedures...and found Bank Mellat deserving of receiving all legal expenses as well as compensation from the EU for losses incurred because of these sanctions,” he added.

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THE OPERATION IS BEING PERFORMED