Complex Made Simple

EU Council avoids court, no sanctions on Bank Mellat ex-chairman

The Council of the European Union has reversed its decision to place sanctions against Dr Ali Divandari, the former chairperson of Bank Mellat, after the largest private bank in Iran filed a complaint at international bodies and sued the EU over its illegal action, Fars news has reported. The EU Council had listed Dr Divandari in the designated list in July 2010 on the basis that it was a legitimate part of its regime of sanctions designed to stop Iranian nuclear programme.