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EU Court's Final Ruling Overturns Sanctions on Iranian Co But Keeps Another

EU Courts Final Ruling Overturns Sanctions on Iranian Co But Keeps Another
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Πεμ, 28 Νοεμβρίου 2013 - 18:02
The European Union's highest court Thursday ruled an Iranian energy company shouldn't be subject to sanctions but upheld restrictions against another, just a day after the EU subjected Tehran's largest cargo-shipping company to new sanctions.
The European Union's highest court Thursday ruled an Iranian energy company shouldn't be subject to sanctions but upheld restrictions against another, just a day after the EU subjected Tehran 's largest cargo-shipping company to new sanctions.

The latest rulings by the European Court of Justice suggest Iran won't get significant relief on sanctions beyond measures agreed Sunday with six major powers in exchange for scaling back nuclear activities.

The legal decisions follow appeals by the European Union Council against a decision by a lower EU court last year that overturned the sanctions against Iranian private company Fulmen Group for its alleged involvement in Iran 's nuclear program.

The Luxemburg court confirmed Iranian private company Fulmen Group and its largest shareholder and Chairman Fereydoun Mahmoudian shouldn't be in the list of companies subject to restrictions because their alleged support of nuclear proliferation couldn't be proven. But it ruled the EU was right to subject to restrictions state-controlled company Manufacturing Support & Procurement Kala Naft Co. because it trades natural-gas and oil equipment, which are subject to EU restrictions.

Though the appeal decision is final, it is unclear if Fulmen could benefit from it. Iranian companies are also subject to a whole range of blanket restrictions from a ban on importing energy equipment to sanctions on the Iranian banking sector impeding trade payments.

Michael Mann, a spokesman for EU foreign policy chief Catherine Ashton, said it "would will carefully study the judgments (before considering any possible response)."

The EU also tends to "re-list" Iranian entities, subjecting them to restrictions on new grounds when the EU wins court challenges. In the most recent example Wednesday, the EU re-listed state-owned Islamic Republic of Iran Shipping Lines due to allegations by the United Nations' Security Council that it had shipped arms-related material. The 28-nation bloc hopes that by re-listing companies and providing additional evidence, it can secure its Iran sanctions regime for the foreseeable future.

Yet, at the same time, the group is already starting work to implement the sanctions relief agreement signed Sunday that could become effective in January. The historical deal includes the transfer of Iranian oil funds blocked abroad worth at least $7 billion and end the EU and U.S. bans on trading gold, petrochemicals and auto and aircraft parts with Iran .

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