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