The EU’s General Court in Luxembourg lifted the bloc’s sanctions against seven Iranian companies on Friday, ruling that there wasn't sufficient evidence to justify the embargoes.
The top EU court ruled that the bloc wrongly blocked the accounts of Post Bank of Iran, the Iran Insurance Company, Good Luck Shipping and the Export Development Bank of Iran, from 2008 to 2011.
“We are very disappointed by the [EU] court’s decision today,” a spokesman for the US Treasury Department said in a statement on Friday.
The US Treasury later announced that it blacklisted six individuals and four businesses over their alleged links to Iranian oil sales.
At the beginning of 2012, the US and the European Union imposed new sanctions on Iran’s oil and financial sectors aimed at preventing other countries from purchasing Iranian oil and conducting transactions with the Central Bank of Iran.
The illegal US-engineered sanctions were imposed based on the unfounded accusation that Iran is pursuing non-civilian objectives in its nuclear energy program.
Iran rejects the allegation, arguing that as a committed signatory to the nuclear Non-Proliferation Treaty (NPT) and a member of the International Atomic Energy Agency (IAEA), it has the right to use nuclear technology for peaceful purposes.
In addition, the IAEA has conducted numerous inspections of Iran’s nuclear facilities but has never found any evidence showing that Iran’s nuclear activities have non-civilian purposes.
