Bank Mellat to Pursue Damages against Britain

Iran’s Bank Mellat in Talks with Lawyers to Pursue Damages against Britain

Iran’s Bank Mellat has held a number of meetings with international lawyers to seek $4-billion damages against Britain after a recent ruling by the European Union’s top court which said the bank’s assets should not have been frozen from 2010.

In a recent meeting, British attorneys and the managers of Bank Mallet discussed measures necessary to pursue the case to assess the damages inflicted on the bank by “the cruel economic sanctions” of Britain’s Treasury, the public relations office of the bank announced on Sunday.

During the talks, the team of international lawyers briefed Managing Director of Bank Mellat Ali Rastegar on the latest developments and actions taken to assess the damages.

Bank Mellat has recently formed a “strategic committee” to follow up on the case seriously, Rastegar said at the meeting.

The bank is determined to use all its capabilities to restore its rights and seek its $4-billion damages, the bank official added.

In February 18, the European Court of Justice rejected an appeal brought by the EU against a lower court ruling.

It was the first ruling in favor of an Iranian company since international sanctions were lifted on the Islamic Republic in January as part of a nuclear deal with world powers known as the Joint Comprehensive Plan of Action (JCPOA).

(Source: Tasnim, under Creative Commons licence)

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