Unpacking the EU Sanctions Blocking Regulation: Bank Melli ...

Advocate General Hogan's opinion in Bank Melli Iran v Telekom Deutschland 2 provides much-needed guidance for companies navigating the choppy waters where US sanctions meet the EU Blocking Regulation. Although not binding on the EU's highest Court, the European Court of Justice (the " CJEU "), the AG's opinion will inform its decision.

EU Top Court Issues First-Ever Judgment on the EU Blocking ...

On December 21, 2021, the Court of Justice adopted its judgment in Case C-124/20, Bank Melli Iran, 1 and, for the first time since its adoption in November 1996, interpreted the so-called "Blocking Statute," which seeks to protect operators in the European Union ("EU") against the effects of the extra-territorial application of certain sanctions adopted by the …

EU firms can scrap Iran deals if U.S. sanctions' costs too ...

The judgment from the European Court of Justice (ECJ) in Luxembourg was prompted by a lawsuit from the German branch of Iran's state-owned Bank Melli against Deutsche Telekom after the telecommunications provider terminated a contract with the bank in 2018 prior to its expiry. The Higher Regional Court in Hamburg will have to decide whether …

Central Bank of Iran - Wikipedia

The first state-owned Iranian bank, Bank Melli Iran was established in 1927 by the government of Iran. On 30 May 1930, it took the responsibility to function as Iran's central bank, and took the rights of the Imperial Bank for £200,000, while it acted as a commercial bank at the same time.

ECJ opinion on the EU Blocking Regulation and US sanctions ...

The Advocate General ("AG") of the ECJ has issued a long-awaited opinion on the meaning of the EU Blocking Regulation concerning US sanctions on Iran. If adopted by the Court, the effects could be significant and wide-ranging. The long-awaited opinion of the AG on 12 May in the case of Bank Melli Iran v Telekom Deutschland is not binding ...

ECJ Ruling: EU Firms Can Scrap Iran Deals if Sanctions ...

The case was brought by Bank Melli Iran back in 2018 after Germany's part state-owned telecom provider Deutsche Telekom cut off Bank Melli's Hamburg …

Bank Melli Iran - Wikipedia

Bank Melli Iran (BMI; Persian: بانک ملی ایران, lit. 'National Bank of Iran', Bank Mili-ye Iran) is the first national and commercial retail bank of Iran.It is considered as the largest Iranian company in terms of annual income with a revenue of 364 657 billion Rials in 2016. It is the largest bank in the Islamic world and in the Middle East.

In Dubai, US sanctions pressure historic business ties ...

He said two Iranian banks, Bank Melli and Bank Saderat, which largely serve Iranians, would continue operating in the UAE. The Dubai government referred questions on sanctions to the UAE economy ...

Trump's organization did business with Iranian bank later ...

The Trump Organization kept the bank on as a tenant for four more years after the U.S. Treasury Department designated Bank Melli in 1999 as being controlled by the Iranian government. U.S. officials later alleged that Bank Melli had been used to obtain sensitive materials for Iran's nuclear program.

Iranian banks notch win in dispute over sanctions ...

Bank helped Iran skirt sanctions, documents allege Although the panel ordered Bahrain to pay the Iranians more than $270 million in compensation and legal fees, it said the damages could be offset...

Bank Melli | Iran Watch

- Bank Melli Iran Central Depts, Ferdowsi Ave., Tehran, Iran - Post Box 11365-123, Tehran, Iran - Ferdowsi Avenue, Tehran 11354, Iran ... As part of the re-imposition of U.S. sanctions on Iran, added on November 5, 2018 to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury's Office of Foreign Assets ...

Warnings And Guideposts From EU Sanctions Blocking Case ...

Telekom Deutschland is a person referred to in Article 11. The U.S. sanctions on Bank Melli Iran are among the laws specified in the annex. Bank Melli's case, in essence, was that Telekom ...

Iranian banks notch win in dispute over sanctions enforcement

Future Bank was established in Bahrain in 2004 with the backing of Bank Melli and Bank Saderat, two of Iran's largest financial institutions, both of …

Bank Melli Opinion: The EU Blocking Regulation Grows Teeth ...

Key takeaways: On 12 May 2021, Advocate General Hogan issued his opinion in Bank Melli Iran v Telekom Deutschland , the first case by the CJEU considering the EU Blocking Regulation.; The EU Blocking Regulation has caused considerable concern for businesses because it prohibits compliance by EU persons with certain U.S. sanctions on …

U.S. sanctions should not stop EU business with Iran, EU ...

The case was brought by Bank Melli Iran, which has a branch in Hamburg, and is being heard in German courts. German judges asked the EU's top court for advice. Register now for FREE unlimited ...

Fact Sheet: Designation of Iranian Entities and ...

Bank Melli provides banking services to entities involved in Iran's nuclear and ballistic missile programs, including entities listed by the U.N. for their involvement in those programs. This includes handling transactions in recent months for Bank Sepah, Defense Industries Organization, and Shahid Hemmat Industrial Group.

12/21/21, 9:43 AM CURIA - Documents

measures taken by the United States of America against Iran – Secondary sanctions adopted by that third country preventing persons from engaging, outside its territory, in commercial relationships with certain ... Bank Melli Iran. v. Telekom Deutschland , THE COURT (Grand Chamber),

Top EU Court Clarifies Anti-US Sanctions "Blocking Statute ...

The court explains how the controversial EU law operates to bar EU persons from complying with US sanctions on Iran and Cuba. On 21 December 2021, the Court of Justice of the European Union (CJEU ...

Why Did OFAC License Bank Melli to Maintain an Office?

Following up on yesterday's post, some have asked why OFAC would have licensed Bank Melli, Bank Sepah, and Bank Saderat to maintain representative offices in the United States following the imposition of the comprehensive U.S. trade and investment embargo with Iran beginning in 1995.

Melli Bank PLC | Iran Watch

A wholly owned subsidiary of Bank Melli Iran. Listed by the European Union on June 24, 2008 as an entity linked to Iran's proliferation-sensitive nuclear activities or Iran's development of nuclear weapon delivery systems; removed from the E.U. list in January 2016 as part of the Joint Comprehensive Plan of Action; added to the Specially Designated Nationals (SDN) list

ECJ Ruling: EU Firms Can Scrap Iran Deals if Sanctions ...

It is not clear when the Hamburg court will make its decision. The case was brought by Bank Melli Iran back in 2018 after Germany's part state-owned telecom provider Deutsche Telekom cut …

Treasury Designates Iran-Controlled Bank for Proliferation ...

"Bank Melli goes to extraordinary lengths to assist Iran's pursuit of a nuclear capability and ballistic missiles, while also helping other designated entities to dodge sanctions," said Stuart Levey, Under Secretary for Terrorism and Financial Intelligence (TFI).

Sanctions List Search

Sanctions List Search is one tool offered to assist users in utilizing the SDN List and/or the various other sanctions lists; use of Sanctions List Search is not a substitute for undertaking appropriate due diligence. ... Bank Melli Iran Bldg, 111 St 24, 929 Arasat Baghdad Iraq PO Box 2643, Ruwi, 112 ...

Top EU court upholds law that balances compliance with ...

LUXEMBOURG (CN) — For a German telecom that makes half of its profits from U.S. business, the "risk of substantial economic loss" can be enough to trigger a loophole under an EU law that would otherwise let it carry on business with an entity like Bank Melli that has been sanctioned by the United States, the bloc's highest court ruled Tuesday.

EU court rules in Iran's favor, Reuters tells the opposite

The court said that Bank Melli's invocation of the EU law on prohibition of complying with US sanctions would only "limit" Telekom's ability to assert its interests generally in …

Prohibiting Compliance With Certain U.S. Sanctions ...

The contract with Bank Melli Iran generated turnover of just over EUR 2,000/month. In 2018, Bank Melli Iran was (again) designated on the U.S. Department of the Treasury, Office of Foreign Assets Control's ("OFAC") Specially Designated Nationals and Blocked Persons ("SDN") List.