Judgment of the General Court (First Chamber) of 22 September 2016 —

Tose’e Ta’avon Bank v Council

(Case T‑435/14)

‛Common foreign and security policy — Restrictive measures against Iran with the aim of preventing nuclear proliferation — Freezing of funds — Plea of illegality — Conferral of an implementing power on the Council — Criterion directed at the entities providing support to the Iranian Government — Error of law — Error of fact — Obligation to state reasons — Proportionality — Fundamental rights’

1. Common foreign and security policy — Decision adopted in the context of the EU Treaty — Procedural requirements laid down by Article 215(2) TFEU — Not applicable (Art. 29 TEU; Art. 215(2) TFEU; Council Decision 2010/413/CFSP) (see para. 26)

2. Common foreign and security policy — Restrictive measures against Iran — Freezing of funds of persons, entities or bodies engaged in or supporting nuclear proliferation — Power of the Council, in the matter of restrictive measures based on Article 215 TFEU, to use the procedure under Article 291(2) TFEU (Arts 215 TFEU and 291(2) TFEU; Council Regulation No 267/2012, Art. 23(2)) (see para. 28)

3. Common foreign and security policy — Restrictive measures against Iran — Measures in the context of the fight against nuclear proliferation — Procedure for entry on the list of persons and entities subject to the freezing of funds and economic resources — Choice of legal basis — Regulation No 267/2012 — Compliance with conditions laid down by Article 291 TFEU (Art. 291(2) TFEU; Council Regulation No 267/2012, Arts 23(2), and 46(2)) (see para. 29)

4. European Union — Judicial review of the legality of the acts of the institutions — Restrictive measures against Iran — Measures in the context of the fight against nuclear proliferation — Ambit of the review — Restricted review for general rules — Criteria for adopting restrictive measures — Support for the Iranian Government — Scope — Compliance with the principle of legal certainty requiring clarity, precision and foreseeability of the effects of legal rules (Council Decisions 2010/413/CFSP, Art. 20(1)(c), and 2012/35/CFSP, thirteenth recital; Council Regulation No 267/2012, Art. 23(2)(d)) (see paras 39-43, 52-54)

5. Acts of the institutions — Statement of reasons — Obligation — Scope — Restrictive measures against Iran — Freezing of funds of persons, entities or bodies engaged in or supporting nuclear proliferation — Minimum requirements (Art. 296 TFEU; Council Decision 2013/124/CFSP) (see paras 67-70)

6. Common foreign and security policy — Restrictive measures against Iran — Freezing of funds of persons, entities or bodies engaged in or supporting nuclear proliferation — Restriction of the right to property and the free exercise of an economic activity — Lawfulness — No breach of principle of proportionality (Council Decision 2010/413/CFSP; Council Regulation No 267/2012) (see paras 107-118)

Re:

APPLICATION under Article 263 TFEU for annulment of the decision of the Council of the European Union to maintain the applicant’s name on the list in Annex II to Council Decision 2010/413/CFSP of 26 July 2010 concerning restrictive measures against Iran and repealing Common Position 2007/140/CFSP (OJ 2010 L 195, p. 39) and on the list in Annex IX to Council Regulation (EU) No 267/2012 of 23 March 2012 concerning restrictive measures against Iran and repealing Regulation (EU) No 961/2010 (OJ 2012 L 88, p. 1), as set out in a notice of 15 March 2014.

Operative part

The Court:

1. Dismisses the action;