EU court annuls sanctions on Iranian Bank Mellat

The European Court of Justice annulled the European Union (EU) sanctions imposed against the Iranian Bank Mellat in July 2010. According to the bank's Managing-Director Ali Divandari, the Court also required the EU to cover the costs of legal procedures. Additionally, Bank Mellat will receive all legal expenses as well as compensation from the EU for losses incurred because of these sanctions. Divandari also said vague reasons were used by the EU to impose the sanctions two and a half years ago.

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