12 February 2013
"The European sanctions against Saderat Bank are illegal." The announcement was made just days before the anniversary celebrations of the Islamic Revolution in Iran and was welcomed like a birthday present. And not only in the halls of power and of diplomacy. The gift, direct from Luxembourg and the European Union General Court, states that the EU has not provided sufficient evidence to demonstrate the involvement of Saderat Bank in Iran's nuclear program and has asked for restrictions be dropped. Just last week, the court made a similar decision regarding Mellat Bank.