Bank Mellat

The United States Department of the Treasury has mentioned Bank Mellat and Persia International in their watchlist of Iranian banks which may be trading in violation of UN Security Council Resolution 1803.{{cite news|url= http://www.fincen.gov/statutes_regs/guidance/html/fin-2008-a002.html|title= Iranian Banks|publisher= The United States department of the Treasury|archive-url= https://web.archive.org/web/20080530042608/http://www.fincen.gov/statutes_regs/guidance/html/fin-2008-a002.html|archive-date= 2008-05-30|url-status= dead}}

On 29 January 2013, the European General Court in Luxembourg ruled to annul the European Union sanctions in place since 2010 against Bank Mellat on grounds of supporting the Iranian nuclear and missile programs, stating that the basic rights of the bank had been denied and there was no evidence supporting the claim. Bank Mellat intends to sue for damages.{{cite news |url=https://www.reuters.com/article/iran-bankmellat-eu-idUSL5N0AZEOB20130130 |title=Iran bank to sue EU after winning sanction list case |publisher=Reuters |date=30 January 2013 |accessdate=16 April 2013}}{{cite web |url=http://europeanlawblog.eu/?p=1639 |title=General Court rulings on Iranian Banks threaten to torpedo EU's foreign policy ambitions |author=Ulrich Unterweger |publisher=European Law Blog |date=4 April 2013 |accessdate=16 April 2013}} On 18 February 2016, the Court of Justice of the European Union concurred with the General Court decision that the reasons given for sanctions were too vague.{{cite web |url=http://www.klgates.com/european-union-and-united-kingdom-sanctions-update-march-2016-03-17-2016/ |title=European Union and United Kingdom Sanctions Update: March 2016 |publisher=K&L Gates |date=17 March 2016 |accessdate=21 May 2016}}

A related action in the British courts was taken to the Supreme Court of the United Kingdom in March 2013, causing the court to hold a closed hearing for the first time.{{cite web |url=https://globalsanctions.co.uk/2013/03/first-ever-closed-hearing-in-the-uk-supreme-court-bank-mellats-case/ |title=First ever closed hearing in the UK Supreme Court - Bank Mellat's case |author=Maya Lester |publisher=Global Sanctions - Law and practice |date=21 March 2013 |accessdate=16 April 2013}} In June 2013, the Supreme Court ruled that the UK government's sanctions on the bank had been unlawful with one justice stating that targeting Bank Mellat was "irrational and disproportionate".{{cite web|last=Lester|first=Maya|title=UK Supreme Court quashes Order against Bank Mellat|date=20 June 2013 |url=http://globalsanctions.co.uk/2013/06/20/uk-supreme-court-quashes-order-against-bank-mellat/|publisher=Global Sanctions blog|accessdate=23 June 2013}} Bank Mellat is claiming damages from the UK government for the loss of business between 2009 and 2013.{{cite news |url=https://www.telegraph.co.uk/news/worldnews/middleeast/iran/10249759/Iranian-bank-sues-over-sanctions.html |title=Iranian bank sues over sanctions |author=Colin Freeman |newspaper=Daily Telegraph |date=18 August 2013 |accessdate=20 August 2013}} The damages hearing was scheduled for June 2019, with Bank Mellat seeking damages of $1.7 billion.{{cite news |url=https://www.lawgazette.co.uk/law/court-of-appeal-rejects-iranian-banks-secrecy-plea/5069653.article |title=Court of Appeal rejects Iranian bank's secrecy plea |last=Cross |first=Michael |website=Law Society Gazette |date=18 March 2019 |accessdate=10 April 2019}} On the first day of the trial the parties agreed a settlement for a confidential sum.{{cite news |url=https://www.ft.com/content/58c4ae5c-91b0-11e9-b7ea-60e35ef678d2 |title=UK settles £1.3bn lawsuit with Iran's Bank Mellat after 10 years |author1=Jane Croft |author2=Andrew England |author3=Sarah Provan |newspaper=Financial Times |url-access=subscription |date=18 June 2019 |accessdate=30 August 2019}}{{cite news |url=https://www.reuters.com/article/britain-bankmellat-settlement/britain-settles-sanctions-dispute-with-irans-bank-mellat-idUSL8N23P39N |title=Britain settles sanctions dispute with Iran's Bank Mellat |last=Ridley |first=Kirstin |publisher=Reuters |date=18 June 2019 |accessdate=30 August 2019}} The Times later reported that £1.25 billion plus interest was paid to Bank Mellat, through a third country entity to avoid US sanctions.{{cite news |url=https://www.thetimes.com/uk/law/article/uk-dodged-sanctions-to-settle-with-iranian-bank-mellat-5xwkclgdm |title=UK dodged sanctions to settle with Iranian Bank Mellat |last=Philp |first=Catherine |newspaper=The Times |location=London |url-access=subscription |date=4 October 2019 |access-date=23 July 2020}}{{cite news |url=https://www.france24.com/en/20191004-iran-claims-victory-after-bank-compensated-by-britain |title=Iran claims 'victory' after bank compensated by Britain |agency=AFP |publisher=France 24 |date=4 October 2019 |access-date=23 July 2020}} However the British government stated in parliament "the amount paid in respect of the settlement was €91,352,709.35", plus £1 million for legal costs.{{cite web |url=https://www.parliament.uk/business/publications/written-questions-answers-statements/written-question/Commons/2019-10-14/337/ |title=Bank Mellat:Written question - 337 |last=Glen |first=John |authorlink=John Glen (politician) |publisher=UK Parliament |work=House of Commons |date=14 October 2019 |access-date=23 July 2020}}

{{reflist|30em}}

{{Portal|Banks}}

• [https://en.bankmellat.ir/ Official Website]

{{Banks of Iran}}

{{TSE Companies of Iran}}

Category:Banks established in 1980

Category:Companies listed on the Tehran Stock Exchange

Category:Companies in the TSE TEFIX-30

Category:Iranian companies established in 1980

Category:Iranian entities subject to U.S. Department of the Treasury sanctions

Category:Government-owned banks of Iran

Category:companies based in Tehran