|Divandari reelected Iran’s Bank Mellat governor||
TEHRAN – Ali Divandari has been reelected for another two-year term as the governor of Bank Mellat, the largest private bank in Iran.
Divandari has served at the post since 2005.
The Council of the European Union on August 3 reversed its decision to place sanctions against Divandari.
A London-based Indian solicitors firm Zaiwalla & Co solicitors, represented Divandari's case in the European Court of Justice to challenge the legality of the sanctions.
Both the bank and Divandari challenged the sanctions in the European Courts. After a long process, both were finally given a hearing before the General Court of the European Union in May 2012. Both parties presented their cases and argued that it was not lawful to impose sanctions against private sector institutions or their employees. Iran's private sector has no role to play in the acts of the Iranian state, they argued.
The EU Council made its decision to 'de-list' Divandari shortly after this hearing, before the Court delivers its judgment.
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