Wednesday 19 November 2014

Iran Failure to Evade Sanctions Offers Russia Little Hope - Bloomberg

Iran Failure to Evade Sanctions Offers Russia Little Hope - Bloomberg:



"Russian companies from OAO Rosneft (ROSN) to OAO Sberbank (SBER) appealing to European courts to circumvent sanctions on the country might want to take their cue from Iran’s failed efforts and save on the legal bills.



That’s because a series of hollow victories by Iranian companies over sanctions for the Islamic nation’s nuclear program have mostly failed to dislodge the European Union’s economic reprisals, according to lawyers.



The appeals allow “parties to win on paper, but not in reality,” said Jean-Marc Thouvenin, a law professor in France who has been involved in court appeals of EU sanctions. In practice, EU ministers have then gone away and found new reasons to justify inclusion of companies or individuals, he said."



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