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Bank Tejarat News

08 Apr 2015

EU Re-imposes Sanctions on Iranian Bank, Shipping Firms

The European Union re-imposed sanctions on an Iranian bank and 32 Iranian shipping companies on Wednesday, using new legal grounds, after the measures were struck down by a European court. The EU's second highest court annulled an EU asset freeze on Bank Tejarat and 40 Iranian shipping companies in January, finding fault with the legal grounds given by the EU. The EU, as it has done in other cases, responded by re-listing Bank Tejarat and 32 of the Iranian shipping firms using new legal grounds. Eight firms were not put back on the list published in the EU's Official Journal on Wednesday. The decision comes days after Iran and six major powers reached a framework agreement to end a dispute over Iran's nuclear activities which prompted the sanctions. Reporting by Adrian Croft

22 Jan 2015

EU Annulls Sanctions on 40 Shipping Firms

The European Union's second highest court on Thursday annulled EU sanctions on an Iranian bank and 40 shipping companies hit with asset freezes as part of pressure on Tehran over its nuclear programme. But they will remain under sanctions for now after the General Court gave the EU time to appeal or to decide whether to re-impose sanctions using different legal grounds. The court's rulings were handed down as six major powers and Iran strive to meet an end-June deadline for a long-term agreement to curb Tehran's nuclear activities in exchange for relief from economic sanctions. The EU put Bank Tejarat, an Iranian commercial bank, under sanctions in 2012, saying it had helped Iran's nuclear efforts.