IslamicFinance.de

Iran's Bank Mellat is suing the British government for almost $4 billion in damages after the Supreme Court quashed sanctions imposed against it over alleged links to Tehran's nuclear programme. The lender wants compensation for the "significant pecuniary loss" and substantial reputational damage it sustained as a result of sanctions imposed in 2009, according to a claim filed in London's High Court. It claims the UK government also successfully lobbied other authorities to impose their own sanctions that ultimately caused and continue to cause the loss of profitable business, customers, banking relationships and dealing services.