GO
Loading...

Iranian bank sues UK govt for $4 bln over sanctions

Monday, 17 Feb 2014 | 6:57 AM ET

Iran's largest private bank is suing the British government for almost $4 billion in damages after the Supreme Court quashed sanctions imposed against it over alleged links to Tehran's nuclear programme.

A logo of Bank Mellat.
Ji-Hwan | AFP | Getty Images
A logo of Bank Mellat.

Bank Mellat wants compensation for the "significant pecuniary loss" it sustained as a result of the sanctions, according to a claim filed in London's High Court and seen by Reuters on Monday.

Britain's Supreme Court ruled last June that the government was wrong to have imposed sanctions in 2009, arguing that the government had been "irrational" to single out Bank Mellat.

Featured

Contact Economy

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More