Court overrules EU fund freeze on Iran bank

February 18, 2016 10:15 AM

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BRUSSELS – The European Union's top court has ruled that the EU unfairly froze the funds of Iran's Bank Mellat for six years when it claimed the bank was backing the Islamic Republic's nuclear and missile programs.

The European Court of Justice said Thursday that it rejected the logic tying the bank to the programs and dismissed an EU appeal to have the sanctions upheld.

Also read: Iranian President Hassan Rouhani Threatens to Back Out of Nuclear Deal

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