News

With the rollback of Iran sanctions underway, more banks in the Islamic republic are likely to seek to refill their coffers through lawsuits seeking damages for the restrictions, according to sources. At least three Iranian institutions-Bank Mellat, Bank Saderat and Bank Refah Kargaran -have in recent years asked European courts to award them millions for their inclusion on sanctions lists after governments accused them of secretly aiding Iran's nuclear ambitions. The banks, which have yet to conclude the cases, claim that government officials failed to justify the sanctions. Following a 2013 U.K. Supreme Court ruling that struck down sanctions against...