Arab Today, arab today eu to withdraw sanctions on bank tejarat soon
Last Updated : GMT 08:32:49
Arab Today, arab today
Arab Today, arab today

EU to withdraw sanctions on Bank Tejarat soon

Arab Today, arab today

Arab Today, arab today EU to withdraw sanctions on Bank Tejarat soon

Tehran - FNA

The European Union (EU) plans to lift its sanctions against Iran’s Bank Tejarat, the banks president announced on Tuesday. “Fortunately, the EU has on its agenda the removal of its sanctions on Bank Tejarat and the bank’s branches in Paris, France, and Dushanbe, Tajikistan, stand atop the list of priorities,” Managing Director of Tejarat Bank Mohammad Reza Fallah said today. He underlined that Bank Tejarat had played an important role in Iran’s foreign exchange activities despite the restrictions that it has been faced with in the last 18 months that it has been under the EU sanctions. In June, Britain\'s Supreme Court lifted sanctions against Iran\'s Mellat Bank describing them \"irrational\" and \"disproportionate\". The UK\'s highest court ruled that the government was wrong to have imposed sanctions on an Iranian bank in 2009 over alleged links to Iran\'s nuclear program. The Supreme Court decision mirrored a January ruling by the European Union\'s General Court, which overturned sanctions imposed in 2010, and could result in the bank suing Britain for damages. In a majority judgment, Supreme Court Judge Jonathan Sumption said that the British government had been \"arbitrary\", \"irrational\" and \"disproportionate\" to single out Bank Mellat, Iran\'s largest private bank, for sanctions, Alalam reported. Bank Mellat has long denied allegations against its activities and argued that it had not been consulted before sanctions were imposed. It also questioned the Supreme Court\'s use of secret sessions for the first time, excluding the bank from parts of the proceedings, though a majority of the nine judges ruled that it was appropriate in this case. \"Today\'s ruling is a victory for the rule of law as much as it is for Bank Mellat,\" said Sarosh Zaiwalla, a senior partner at the bank\'s law firm Zaiwalla & Co Solicitors. The British government\'s sanctions on Bank Mellat prevented the whole of the UK\'s financial sector from having any business relationship with the bank. Sanctions imposed on the bank by the United States remain in place. Wednesday\'s rulings come against the backdrop of a debate over the use of secret evidence in British courts. The government is keen to extend the use of so-called Closed Material Procedures to civil court cases. It was the first secret session in the Supreme Court\'s history and meant that all the evidence was not shown to the bank itself. Late in January, Managing-Director of Bank Mellat (the largest private bank in Iran) Ali Divandari announced that his bank has been removed from the European Union\'s sanctions list. \"After two and a half years of intensive legal work to remove the sanctions, the court declared a ruling in support of Bank Mellat,\" Divandari said. In August, the Council of the European Union reversed its decision for imposing sanctions against Divandari after the latter party filed a complaint at international bodies and sued the EU over its illegal action. The Zaiwalla & Co solicitors represented Dr. Divandari\'s case in the European Court of Justice to challenge the legality of the sanctions. Bank Mellat has been fighting US accusations of involvement in confidential financial activities to help fund Iran\'s nuclear activities. The EU Council had listed Divandari in the designated list in July 2010 on the basis that it was a legitimate part of its regime of sanctions designed to stop Iranian nuclear program. He was at the time Chairman of Bank Mellat. The Council had designated the Bank Mellat and it considered it to be involved in Iran\'s attempts to develop a nuclear program and then went a step further, said Zaiwalla, by deciding to personally designate the Bank\'s chairperson too on the basis of his job title. Both the bank and Divandari challenged the sanctions in the European Courts. After a long process, both were finally given a hearing before the General Court of the European Union in May 2012. Both parties presented their cases and argued that it was not lawful to impose sanctions against private sector institutions or their employees. Iran\'s private sector has no role to play in the acts of the Iranian state, they argued.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu to withdraw sanctions on bank tejarat soon Arab Today, arab today eu to withdraw sanctions on bank tejarat soon

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu to withdraw sanctions on bank tejarat soon Arab Today, arab today eu to withdraw sanctions on bank tejarat soon

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday