LONDON Oct 7 European Union sanctions on Iran's
main oil tanker firm NITC have been annulled after the EU did
not appeal against a court ruling that the measures should be
lifted, the shipping group's lawyer said on Tuesday.
An EU official told Reuters the European Union was working
to resolve the issue, adding: "The time for appeal had elapsed
but work is still ongoing on remedial action for maintaining the
entity on the list."
In July the Luxembourg-based General Court, the
second-highest court in the EU, ruled there were no grounds to
blacklist NITC in the bloc after the company contested the
designation. Rulings are typically suspended for two months
"We are glad to see the (European) Council accept the
judgment of the EU court that the sanctions were unlawful,
although it is regrettable that they did not see fit to lift the
sanctions sooner," said Rovine Chandrasekera of law firm
Stephenson Harwood, which represented NITC.
(Reporting by Jonathan Saul and Robin Emmott in Brussels;
Editing by Pravin Char)