Western sanctions have undermined the Iranian rial
The EU's top court has ruled that the EU should unfreeze the assets of seven Iranian banks and other businesses hit by sanctions.
The European Court of Justice (ECJ) said there was insufficient evidence that the businesses concerned were involved in nuclear proliferation.
Post Bank Iran, Iran Insurance Company and Export Development Bank of Iran are among those listed by the ECJ.
EU and US sanctions are aimed at curbing Iran's nuclear programme.
Western powers suspect Iran of trying to develop nuclear weapons, so they have frozen the assets of various Iranian businesses thought to be linked to that programme.
Iran insists that its nuclear technology is solely intended for civilian uses.
The ECJ ruling will not take immediate effect - the EU governments, jointly called the Council, have two months within which to appeal. So for the time being the asset freeze will remain in place, the court said in a statement.
Source: BBC News - Business http://www.bbc.co.uk/news/world-europe-23984722#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
