Archive: 2/7/2013
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  2/7/2013, Shevat 27, 5773

EU Lifts Sanctions Against Iran's Largest Bank


The European Union's Court has ruled for the second time to lift the sanctions against the Saderat Bank, Iran's and the MIddle East's largest bank.

The decision was reached due to lack of sufficient evidence proving that the bank was connected to Iran's nuclear program.

Last week, the court issued a similar ruling for Bank Mellat, the biggest private sector lender in Iran.

These rulings, if not appealed and overthrown, will considerably weaken the sanctions imposed by the West on Iran.