Iranian Bank Loses Bid For €121M Damages For EU Sanctions

Law360, London (October 6, 2020, 4:35 PM BST) -- The European Union's top court on Tuesday rejected an Iranian bank's bid for €121 million ($142 million) in damages from the EU after its funds were frozen under nuclear sanctions that were later overturned on appeal.

The European Court of Justice ruled that Bank Refah Kargaran is not entitled to compensation over losses that it said it suffered when its funds were frozen in connection with sanctions imposed by the Council of the EU in 2010. The bloc wanted to exert pressure on Iranian banks to compel the Islamic Republic to end its development of nuclear weapons.

The Iranian bank had...

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!