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Iranian Insurer Denied Compensation Over EU Nuke Sanctions

Law360, London (December 14, 2018, 5:41 PM GMT) -- The European Union’s General Court has refused to grant millions of euros in damages to a state-owned Iranian insurer after its assets were frozen under nuclear sanctions against Tehran, handing victory to the European Council.

The court dismissed an application by Iran Insurance Co., a major company also known as Bimeh Iran, which sued the council after it placed the company on a sanctions list in July 2010. The EU's political leadership had accused the insurer of insuring helicopter parts and computers used to navigate Iranian aircraft and missiles, in a move that triggered years of legal action.

The court, part...

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