The Grand Chamber of the European Court of Justice Upheld the General Court’s Decision on the National Iranian Oil Company

The National Iranian Oil Company (NIOC) has lost an appeal to the Grand Chamber of the European Court of Justice to set aside the General Court’s decision not to annul its sanctions listing.  NIOC was originally added to the Iranian sanctions list in 2012, on the premise it is a state owned entity that provides financial resources to the Iranian government.  The ECJ confirmed the General Courts ruling that the basis of NIOC’s listing was not illegal for being too broad that it undermined the law.