December 9, 2021

Persian News

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Bahrain sentenced to release $1.7 billion of Iranian funds

TEHRAN — In an exclusive interview with the Tehran Times, Abbas Honarmand, the deputy director of communications and information at the presidential office, said on Wednesday that an international arbitral tribunal has unanimously ordered Bahrain to pay compensation to Bank Saderat and Bank Melli for the expropriation of their investment in Future Bank in violation of international law.

The tribunal has also ruled that the move has been politically driven, Honarmand added.

He said that Bahrain must release $1.7 billion, as well as $240 million as a fine, along with litigation costs.

Bahrain had frozen $1.7 billion of Iranian money in Manama. 
 

Original News : https://www.tehrantimes.com/news/467381/Bahrain-sentenced-to-release-1-7-billion-of-Iranian-funds

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