The British Treasury has announced the repeal of an asset freeze on five Iranian entities and an Iranian businessman following an EU court verdict, Press TV reports.
The announcement came after the General Court of the European Union annulled the sanctions against Iranian businessman and five firms, namely, Sorinet Commercial Trust (SCT), Sharif University of Technology, National Iranian Tanker Company (NITC), Moallem Insurance Company (MIC) and Sina Bank.
The rulings in respect to the businessman, Sorinet Commercial Trust, Sharif University of Technology, and the NITC were passed on July 3, 2014.
The verdict regarding Moallem Insurance Company was handed down on July 10, 2014, while the decision on Sina Bank was issued on June 4, 2014.
UK lifts sanctions on Iranian entities
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