UK: HIGH COURT SAYS PAYING INTEREST TO IRANIAN MINISTRY WOULD BREACH SANCTIONS

The EU Sanctions Blog reported on 31^st July that the Commercial Court has given judgment in Ministry of Defence & Support for Armed Forces of the Islamic Republic of Iran v International Military Services Ltd.  The decision means that the Iranian MoD cannot claim the £400 million in interest owed to Iran from the sale of British military vehicles in 1971, as the relevant EU Regulation imposing sanctions precluded the ministry from enforcing the interest component of the award because no claims connected to the performance of a contract or transaction could be satisfied if made by a designated person.

https://www.europeansanctions.com/2019/07/uk-high-court-judgment-says-paying-iranian-ministry-interest-on-award-would-breach-sanctions/

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017