UK Treasury Pays Damages to Iranian Bank Over Incorrect Charges

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A major private bank in Iran, Bank Mellat has accepted a private (or out-of-court) settlement of damages from the UK government, as a reimbursement for HM Treasury’s illegitimate obligation of sanctions on the lender in 2009.

The bank started prosecution proceedings against the HM Treasury for USD $4 billion, however the amount of the private settlement has remained outside of public knowledge so far.