EU Re-Imposes Sanctions on Iranian Bank, 32 Shipping Firms
TEHRAN (Tasnim) – The European Union (EU) re-imposed sanctions on an Iranian Bank and 32 shipping companies on Wednesday, just a few days after Iran reached a framework agreement with representatives of the EU and the US, Russia, and China over its nuclear program.
The measure comes even though Europe's second highest court ordered end to asset freeze on Iranian entities in January.
The decision is taken days after Iran and six major powers reached a framework agreement to end a long-running dispute over Iran's nuclear program.
The EU's second-highest court annulled an EU asset freeze on Bank Tejarat and 40 Iranian shipping companies in January, finding fault with the legal grounds given by the EU.
The EU, as it has done in other cases, responded by re-listing Bank Tejarat and 32 of the Iranian shipping firms, including Hamburg-based Ocean Capital Administration GmbH, using new legal grounds.
Eight firms were not put back on the list published in the EU's Official Journal on Wednesday. The measures take immediate effect.
In its reasons for restoring the asset freeze on Bank Tejarat, the EU said the bank "provides significant support to the Government of Iran by offering financial resources and financing services for oil and gas development projects."
The shipping firms were all listed because they are owned by Islamic Republic of Iran Shipping Lines, which was previously put under sanctions.
