Iran’s Bank Tejarat sues EU for sanctions
Tehran, Iran, Jan. 28
By Mehdi Sepahvand – Trend:
Bank Tejarat, a commercial bank in Iran, has filed a suit with the European Court of Justice (ECJ) with the hope to redeem what it lost during 2012-2016 when the bank was under European Union sanctions.
Bank Tejarat President Mohammad Ebrahim Moqaddam said the bank suffered great losses during those years when its assets abroad had been frozen, adding now Bank Tejarat has decided to leap for compensation, IRNA news agency reported January 28.
The EU put Bank Tejarat under sanctions in 2012, arguing that it had helped the country’s nuclear energy program.
On January 16, 2016, the P5+1 (China, France, Germany, Russia, the United Kingdom, and the United States), the European Union, and Iran announced the next step – Implementation Day – under the political agreement on Iran’s nuclear program, known as the Joint Comprehensive Plan of Action (JCPOA).
Under the deal, some Iranian banks, such as Bank Mellat, Bank Melli Iran, Bank Tejarat and the Central Bank of Iran were delisted from sanctions.