Sanctions Still Stop Iran From Earning Interest On $159M Win

Law360 (February 13, 2020, 6:18 PM EST) -- Iran still can’t collect interest on a £127.6 million ($159.3 million) arbitration award that it won against a British state-owned military supplier because sanctions have made it impossible for the award to be paid, the U.K.’s Court of Appeal has ruled.

Though Judge Guy Newey noted Wednesday that Iran’s Ministry of Defence & Support for Armed Forces is “frustrated” by its inability to collect a cent of its £127.6 million arbitral win against U.K. Ministry of Defence-run business International Military Services Ltd., he dismissed the country’s appeal of a ruling by the English High Court last year that found that sanctions...

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