Bank Mellat forms panel to gain compensation from UK

Tehran, June 12, IRNA – Managing director of Bank Mellat said the bank has formed a committee to follow up the issue of getting compensation from UK because of a 4-billion-dollar damage inflicted by the sanctions on the bank.

Ali Rastegar said the damage was caused from the sanctions unfairly imposed on Iran in the past.

Rastegar made the remarks in a joint meeting attended by officials of Bank Mellat and British attorneys working on the case.

Bank Mellat is determined to use its capabilities and services in an outside the country to win the case and fulfill its right, Rastegar said.

On the pretext of false claims over Iran’s peaceful nuclear activities, the European Union (EU) and Britain imposed sanctions on different persons and bodies including Bank Mellat in the country.

The sanctions caused a lot of loss during the past years.

On February 18, 2016, the Fifth Chamber of the European Court of Justice (ECJ) rendered a judgment in the matter of Council of the European Union v Bank Mellat (Case C-176/13 P) that could pave the way for Bank Mellat to recover damages based on its designation for sanctions by EU and UK authorities, the EU website has reported.