EU court strikes down Iran nuclear sanctions
September 07, 2013 - 3:01:27 am
Bushehr nuclear power plant (File picture)
LUXEMBOURG: One of the European Union’s top courts annulled yesterday an EU asset freeze imposed on seven Iranian banks and other companies for their alleged involvement in the country’s nuclear programme. The European Tribunal, second only to the European Court of Justice, said the EU had failed to prove or properly consider the evidence when imposing sanctions. But it said its action would not have immediate effect and the sanctions will remain in place for two months and 10 days pending an EU appeal against its findings. During this period, the EU can adjust its case and formulate new sanctions, a statement added.