Iranian Bank Loses Bid For €89M In EU Sanctions Appeal

Law360, London (June 5, 2019, 10:50 PM BST) -- The Council of the European Union’s error in putting the U.K. unit of Bank Saderat Iran on a sanctions list was not a “flagrant” breach of the bloc’s law and so it is not liable for €88.9 million ($99.8 million) damages claimed by the bank, an EU court ruled Wednesday.

The General Court of the European Union has dismissed Bank Saderat PLC’s claim against the Council for damages allegedly sustained after it was put on a list of persons and entities subject to EU sanctions.

The bank’s designation — which led to the freezing of its funds and economic resources —...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!