Wednesday, July 09, 2008

London court rules against Bank Melli

Wed, 09 Jul 2008 16:29:18 Press TV

A London court has dismissed a lawsuit filed by a subsidiary of Bank Melli against EU for imposing sanctions on Iran's largest bank.

The London branch of Iran's Bank Melli had filed suit against the European Union after the EU decided to ban the bank from operating in Europe for 'providing services to the country's nuclear program'.

Judge Lord Justice Alan Moses ruled on Wednesday that the case should be decided in the EU's Court of First Instance.

"Melli UK has taken the wrong point, in the wrong court, with the wrong defendant," he said.

The bank's lawyer Richard Gordon told London's High Court on Tuesday that the subsidiary's operations were in compliance with UK law, describing the sanctions as illegal.
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