UK Compensation to Iranian Bank A Major Legal Success: Envoy
TEHRAN (Tasnim) – Iranian Ambassador to London Hamid Baeidinejad said the ruling that obliged the British government to pay compensation to Bank Mellat was a major legal success for the Islamic Republic.
“The British government’s compensation has been paid to Bank Mellat, which was to be paid to the bank based on a court ruling four months ago,” Baeidinejad said on his Twitter amount on Friday.
“The compensation is based on a UK court ruling and because of the illegal sanctions imposed by the British Treasury against the Bank Mellat for several years since 2009,” he added.
He further emphasized that the ruling that obliged the UK Treasury to pay compensation to Mellat Bank was a major legal success for Iran.
Britain used a third country to avoid US sanctions as it paid the bank a settlement in a £1.25 billion damages case, according to The Times.
Bank Mellat 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.
Bank Mellat had sought £3.2 billion but this fell to £1.25 billion with interest.
