U.S. Treasury Official Says EU Court Rulings Threaten Sanctions Efforts

By Kira Zalan and Colby Adams

Recent European court decisions against the designations of Iranian banks and other companies are threatening the efficacy of international sanctions, a U.S. Treasury Department official said Monday. In November, the European Court of Justice invalidated the 28-nation bloc's designations of two companies blacklisted for their alleged involvement with Iran's nuclear program. The decision came two months after an EU court in Brussels lifted asset freezes against seven Iranian companies, including four banks, on the grounds that the evidence used to justify the measures was insufficient and that the government refused to disclose evidence. The judgments, which include reversals of U.N....