Bahrain held liable for political expropriation
Manama, Bahrain, where Future Bank was based (Credit: ShutterStock/asims_gallery)
Bahrain has been ordered to pay over €200 million damages plus costs to two Iranian state-owned banks for the unlawful expropriation of their banking venture in Manama in an act of "political retribution" in the wake of the 2015 Iran nuclear deal – but the state says a set-off means the financial value of the award could be eroded to nothing.
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