BAHRAIN ORDERED TO PAY OVER $270 MILLION TO BANK SADERAT AND BANK MELLI, IN LEGAL FEES AND DAMAGES SUFFERED AS A RESULT OF THE FORCED CLOSURE OF FUTURE BANK IN 2015

On 17 December, the EU Sanctions blog reported that the Permanent Court of Arbitration (PCA) had made the order for payment to the Iranian banks in connection with the forced closure of Future Bank in 2015 over allegations that it facilitated money laundering and the evasion of US and UN sanctions.

https://www.europeansanctions.com/2021/12/arbitration-panel-orders-compensation-over-future-bank-closure/

https://www.washingtonpost.com/national-security/bahrain-iran-future-bank/2021/11/26/0a1d1b3a-4cad-11ec-b0b0-766bbbe79347_story.html

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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

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