EU court rules in Iran’s favor, Reuters tells the opposite

EU court rules in Iran’s favor, Reuters tells the opposite
Reuters news agency claims ECJ has authorized decisions by EU companies to terminate Iran contracts.

The Reuters news agency has misinterpreted a new legal advice issued by the European Court of Justice (ECJ) claiming that the judgment allows EU companies to terminate contracts with Iran to prevent losses they could suffer because of US sanctions on Tehran.  

Reporting on ECJ’s December 21 judgment on a German court case involving Iran’s Bank Melli and German company Telekom, Reuters said that the ruling authorizes decisions by European companies to end contracts with Iranian firms if sticking to the deals would entail disproportionate economic effect because of American sanctions.

That comes as the text of judgment published on ECJ’s website shows that the court in Luxembourg has endorsed Bank Melli’s legal action against Telecom by attributing it to an EU regulation prohibiting European businesses from complying with US sanctions.

ECJ’s…

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