Shamefully, EU decides to lift sanction on Iranian bank used to channel funds to terrorist organizations

Source:, IranWatch

The European Union has decided to lift sanctions on three Iranian companies (Oil Industry Pension Fund Investment Company, Neka Novin and West Sun Trade), and to one Bank, the Bank Sedarat PLC of London. Despite being localized in London, the Bank Sedarat PLC remains 100% owned by Bank Sedarat Iran, which is an Iranian State owned bank. In the United States, this bank remains under sanctions for being one of the channels with which the Iranian regime transfers funds to terrorist organizations like Hezbollah, Hamas, the Popular Front for the Liberation of Palestine-General Command (PFLP-GC), and Palestinian Islamic Jihad. Between 2001 and 2006, for example, Tehran transferred $50 million to Hizballah fronts in Lebanon via the Bank Sedarat. By deciding to lift the sanctions against Bank Sedarat PLC, the EU is indirectly giving to Tehran a new possibility to finance international terrorism freely.  



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