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European Union – Legal basis of regulation. The General Court of the European Union granted the application by Safa Nicu Sepahan Co., (Safa Nicu) for: (i) annulment in part of Council Implementing Regulation (EU) 503/2011 implementing Regulation (EU) 961/2010 (on restrictive measures against Iran) and Council Regulation (EU) 267/2012; and (ii) compensation for non-material damage. However, Safa Nicu's claim for compensation in respect of material damage was dismissed.
European Union – Legal basis of regulation. The General Court of the European Union granted the application by Safa Nicu Sepahan Co., (Safa Nicu) for: (i) annulment in part of Council Implementing Regulation (EU) 503/2011 implementing Regulation (EU) 961/2010 (on restrictive measures against Iran) and Council Regulation (EU) 267/2012; and (ii) compensation for non-material damage. However, Safa Nicu's claim for compensation in respect of material damage was dismissed.
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