Central Bank of Iran v Council of the European Union

European Union – Regulations. The applicant Central Bank of Iran sought the annulment of Council Regulation (EU) 267/2012, listing it as a body subject to restrictive measures introduced in order to apply pressure to Iran to end its proliferation-sensitive nuclear activities and the development of nuclear weapon delivery systems. The General Court of the European Union, in allowing the application, held that the Council's statement of reasons for that act was insufficient, as it did not enable either the applicant or the Court to understand the circumstances which had led the Council to consider that the relevant criterion had been satisfied in the case of the applicant and, accordingly, to adopt the contested act.

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