Oct 4, 2019, 5:04 PM
Journalist ID: 2377
News Code: 83502776
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Collecting Bank Mellat damages from UK major legal success: Baeidinejad

London, Oct 4, IRNA – Iran's Ambassador in London Hamid Baeidinejad said on Friday that the UK court ruling requiring the Treasury to pay compensation to Bank Mellat is a major legal success.

Baeidinejad tweeted that the UK government has paid compensation to Bank Mellat based on the verdict issued four months ago.

He further noted that the compensation was paid for the illegal sanctions the UK Treasury imposed on the Iranian bank in 2009.

Bank Mellat, in which the Iranian government owns a 17 percent stake, sued the government over British sanctions imposed in 2009 that prevented it from doing business with the UK’s financial sector.

The Supreme Court ruled that the sanctions were illegal and a five-week hearing of the bank’s claim for damages covering its loss of business had been scheduled for June.

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