The General Court, based in Luxembourg, said that the EU had not provided enough evidence linking IRISL to Iranian nuclear proliferation, stating that the evidence presented "does not justify the adoption and maintenance of restrictive measures".
Following today’s verdict, a two-month appeal period has been initiated, where EU members will be given the opportunity to appeal against the court’s findings, after which point the sanctions will be lifted. Spokesperson Maja Kocijncic said that the review process was “already ongoing”.
IRISL was first sanctioned in 2008 by the US treasury based on claims that it was aiding Iran’s nuclear programme.
Speaking to Reuters, IRISL legal representative Maryam Taher said, "This is not just victory for our clients but also for the rule of law. It's a celebration of the independence and integrity of our courts.”
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