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EU court ruling allows firms to break Iran contracts
By EUobserver
EU firms can terminate contracts with Iran if the cost of US sanctions would lead to "disproportionate economic loss," the European Court of Justice ruled Tuesday. The case arose after Iran's Bank Melli sued Deutsche Telekom for terminating a contract early in 2018. The court also upheld the EU's "blocking statute", which was meant to forbid European firms from complying with US penalties, but said the "economic-loss" rule over-rode this.