27 May 2009
The decision taken by the European Union (EU), and backed by the US, to sanction Bank Melli of Iran's (BMI) foreign branches is a political action and not related to the bank's performance.
According to Mehr News Agency, BMI Chief Mahmoud Reza Khavari also said on Monday that the bank has filed a complaint against the EU over the sanctions.
"Bank Melli Iran has to stand up and defend itself in order to lift the sanctions against the bank's foreign branches," Khavari said.
Last year, the EU slapped sanctions against BMI and froze the funds and assets of the bank in Europe.
As a result of EU sanctions, the bank's branches in European cities of London, Hamburg and Paris ceased operations.
Tehran has called EU sanctions 'illegal', saying they will not help create an atmosphere for a diplomatic resolution.
Iran's Foreign Ministry spokesman at the time, Mohammad Ali Hosseini said the sanctions were "meaningless and contrary to international law".
"The sanctions are illegal and show the EU's double standards," he added.
In recent years, the US has accused Iranian banks, including BMI, of providing financial services to what it terms "Iran's nuclear and ballistic missile programs".
In a statement published on its website, BMI refuted the US allegations and categorically denied involvement in any "deceptive banking practice".
The decision taken by the European Union (EU), and backed by the US, to sanction Bank Melli of Iran's (BMI) foreign branches is a political action and not related to the bank's performance.
According to Mehr News Agency, BMI Chief Mahmoud Reza Khavari also said on Monday that the bank has filed a complaint against the EU over the sanctions.
"Bank Melli Iran has to stand up and defend itself in order to lift the sanctions against the bank's foreign branches," Khavari said.
Last year, the EU slapped sanctions against BMI and froze the funds and assets of the bank in Europe.
As a result of EU sanctions, the bank's branches in European cities of London, Hamburg and Paris ceased operations.
Tehran has called EU sanctions 'illegal', saying they will not help create an atmosphere for a diplomatic resolution.
Iran's Foreign Ministry spokesman at the time, Mohammad Ali Hosseini said the sanctions were "meaningless and contrary to international law".
"The sanctions are illegal and show the EU's double standards," he added.
In recent years, the US has accused Iranian banks, including BMI, of providing financial services to what it terms "Iran's nuclear and ballistic missile programs".
In a statement published on its website, BMI refuted the US allegations and categorically denied involvement in any "deceptive banking practice".
© Iran Daily 2009
