On 25 March, the General Court of the European Union dismissed the Central Bank of Iran's second application for annulment in Case T-563/12 Central Bank v Council. In its judgment, the Court interpreted the EU Council's expanded criteria for listing individuals and entities in its nuclear-related sanctions against Iran and gave guidance as to the definition of "financial support to the Government of Iran".
The Central Bank of Iran had successfully applied to annul its January 2012 designation. The EU Council subsequently relisted the Bank for providing "financial support to the Government of Iran" in October 2012.
In its judgment, the Court interpreted the phrase "financial support" to mean "any activity of the person or entity concerned which, regardless of any direct or indirect link established with nuclear proliferation, is capable, by its quantitative or qualitative significance, of encouraging that proliferation, by providing the Government of Iran with support in the form of resources or facilities of a material, financial or logistical nature which allow it to pursue nuclear proliferation". The Court considered this reason was justified and upheld the Bank's designation as the Bank provides financial support to the Iranian government in its capacity as the central bank.