Iran bank's UK unit to challenge nuclear sanctions

A London-based subsidiary of Iran's largest bank, Bank Melli, said on Tuesday it would take action in British and EU courts to challenge the legality of sanctions imposed by the European Union.

Iran bank's UK unit to challenge nuclear sanctions
A London-based subsidiary of Iran's largest bank, Bank Melli, said on Tuesday it would take action in British and EU courts to challenge the legality of sanctions imposed by the European Union.

The subsidiary, Melli Bank Plc, said it would apply to the British courts for judicial review and an interim injunction to suspend the application of an EU asset freeze. The move was agreed on Monday because of the parent bank's alleged role in financing firms linked to Iranian nuclear and missile programmes.

"Melli Bank Plc will also be initiating proceedings before the European Court of First Instance to challenge the legality of the decision," it said in a statement.

Reuters
Last Mod: 25 Haziran 2008, 11:42
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