IP- Bahrain has been ordered to pay over €200 million damages plus costs to two Iranian state-owned banks for the unlawful expropriation of their banking venture in Manama in the act of "political retribution" in the wake of the 2015 Iran nuclear deal.

Iran PressMiddle East: The head of the International Legal Affairs Center of the Vice President for Legal Affairs of Iran, Tavakol Habibzadeh, said: The International Court of Arbitration (ICC) ordered Bahrain to pay more than 200 million Euros in compensation to Iran's Melli Bank and Saderat Bank of Iran.

Habibzadeh added: "According to the announcement of Dornes and Gharavi Institute (lawyer of the two Banks) in the ICC, the Bahraini government was sentenced for illegal confiscation of shares of the two Iranian banks."

he also noted added: "In an international arbitration under the supervision of The Permanent Court of Arbitration (PCA)  in The Hague, Bank Saderat and Bank Melli Iran filed a lawsuit against the Bahraini government."

According to Habibzadeh, the arbitration hearings were held in Paris, and finally, the jury unanimously condemned the Bahraini government after nearly five years of deliberation," Habibzadeh noted.


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