Judgment of the Court (First Chamber) of 11 November 2021

Bank Sepah v Overseas Financial Limited and Oaktree Finance Limited

Request for a preliminary ruling from the Cour de cassation

Reference for a preliminary ruling – Common foreign and security policy (CFSP) – Restrictive measures against the Islamic Republic of Iran – Regulation (EC) No 423/2007 – Freezing of funds of persons, entities or bodies recognised by the Council of the European Union as being engaged in nuclear proliferation – Concepts of ‘freezing of funds’ and ‘freezing of economic resources’ – Possibility of applying a protective measure in respect of frozen funds and economic resources – Claim pre-dating the freezing of assets and unrelated to Iran’s nuclear and ballistic programme

Case C-340/20


Top of the page Documents in the Case
Document Date Name of the parties Subject-matter Curia EUR-Lex Autres Liens
National decision following the preliminary ruling
ECLI:FR:CCASS:2022:AP00658		 29/04/2022 Bank Sepah
External Link
Judgment (OJ)
10/12/2021 Bank Sepah
Common foreign and security policy
  • Common foreign and security policy
EUR-Lex text EUR-Lex bilingual text
Judgment
ECLI:EU:C:2021:903		 11/11/2021 Bank Sepah
Common foreign and security policy
  • Common foreign and security policy
EUR-Lex text EUR-Lex bilingual text
Judgment (Summary)
ECLI:EU:C:2021:903		 11/11/2021 Bank Sepah
Common foreign and security policy
  • Common foreign and security policy
EUR-Lex text EUR-Lex bilingual text
Application (OJ)
25/09/2020 Bank Sepah
Common foreign and security policy
  • Common foreign and security policy
EUR-Lex text EUR-Lex bilingual text
Request for a preliminary ruling
24/07/2020 Bank Sepah
Common foreign and security policy
  • Common foreign and security policy
EUR-Lex text EUR-Lex bilingual text
Opinion
ECLI:EU:C:2021:496		 17/06/2021 Bank Sepah
Common foreign and security policy
  • Common foreign and security policy
EUR-Lex text EUR-Lex bilingual text
Top of the page Legal analysis of the decision or of the case

Reports of Cases

published in the electronic Reports of Cases (Court Reports - general)

Subject-matter

Information not available

Systematic classification scheme

1.
-
6 External policy
  6.01 Common foreign and security policy (CFSP)
    6.01.01 Restrictive measures - Freezing of funds and various prohibitions
      6.01.01.00 General
-
6 External policy
  6.01 Common foreign and security policy (CFSP)
    6.01.01 Restrictive measures - Freezing of funds and various prohibitions
      6.01.01.01 Concept of restrictive measures
-
6 External policy
  6.01 Common foreign and security policy (CFSP)
    6.01.01 Restrictive measures - Freezing of funds and various prohibitions
      6.01.01.09 Restriction(s) on the right to property
-
1 The legal order of the European Union
  1.07 Interpretation of EU law
-
6 External policy
  6.01 Common foreign and security policy (CFSP)
    6.01.01 Restrictive measures - Freezing of funds and various prohibitions
      6.01.01.00 General
-
6 External policy
  6.01 Common foreign and security policy (CFSP)
    6.01.01 Restrictive measures - Freezing of funds and various prohibitions
      6.01.01.01 Concept of restrictive measures
-
6 External policy
  6.01 Common foreign and security policy (CFSP)
    6.01.01 Restrictive measures - Freezing of funds and various prohibitions
      6.01.01.00 General
-
6 External policy
  6.01 Common foreign and security policy (CFSP)
    6.01.01 Restrictive measures - Freezing of funds and various prohibitions
      6.01.01.01 Concept of restrictive measures
-
6 External policy
  6.01 Common foreign and security policy (CFSP)
    6.01.01 Restrictive measures - Freezing of funds and various prohibitions
      6.01.01.09 Restriction(s) on the right to property
-
1 The legal order of the European Union
  1.01 Sources of EU law
    1.01.02 General principles of law
      1.01.02.06 Principle of proportionality
-
1 The legal order of the European Union
  1.04 Fundamental rights
    1.04.03 The fundamental rights
      1.04.03.17 Right to property
-
6 External policy
  6.01 Common foreign and security policy (CFSP)
    6.01.01 Restrictive measures - Freezing of funds and various prohibitions
      6.01.01.09 Restriction(s) on the right to property


Citations of case-law or legislation

References in grounds of judgment

Operative part

Opinion


Dates

Date of the lodging of the application initiating proceedings

Information not available

Date of the Opinion

  • 17/06/2021

Date of the hearing

Information not available

Date of delivery

11/11/2021


References

Publication in the Official Journal

Information not available

Name of the parties

Bank Sepah

Notes on Academic Writings

  1. Lieberknecht, Markus: Zwangsvollstreckung in das eingefrorene Vermögen sanktionierter Personen : zu EuGH, 11.11.2021 : Rs. C-340/20, Bank Sepah ./. Overseas Financial Ltd. & Oaktree Finance Ltd., Praxis des internationalen Privat- und Verfahrensrechts 2024 p. 36-41 (DE)



Procedural Analysis Information

Source of the question referred for a preliminary ruling

Cour de cassation - France

Subject-matter

  • Common foreign and security policy

Provisions of national law referred to

Information not available

Provisions of international law referred to

Résolution du Conseil de sécurité des Nations Unies nº 1737, https://www.undocs.org/fr/S/RES/1737%20(2006) Résolution du Conseil de sécurité des Nations Unies nº 1747, https://www.undocs.org/fr/S/RES/1747%20(2007) Résolution du Conseil de sécurité des Nations Unies nº 2231, https://www.undocs.org/fr/S/RES/2231%20(2015)

Procedure and result

  • Reference for a preliminary ruling

Formation of the Court

Première chambre (Cour)

Judge-Rapporteur

Safjan

Advocate General

Pitruzzella

Language(s) of the Case

  • French

Language(s) of the Opinion

  • French