16According to settled case-law, the statement of reasons required under Article 296 TFEU for measures adopted by EU institutions must be appropriate to the measure at issue and must disclose clearly and unequivocally the reasoning followed by the institution which adopted that measure in such a way as to enable the persons concerned to ascertain the reasons for it and to enable the competent court to review its legality. The requirements to be satisfied by the statement of reasons depend on all the circumstances of each case, in particular, the content of the measure in question, the nature of the reasons given and the interest which the addressees of the measure, or other parties to whom it is of direct and individual concern, may have in obtaining explanations. It is not necessary for the reasoning to go into all the relevant facts and points of law, since the question whether the statement of reasons meets the requirements of Article 296 EC must be assessed with regard not only to its wording but also to its context and to all the legal rules governing the matter in question (judgment in Commission v Sytraval and Brink’s France, Case C‑367/95 P, EU:C:1998:154, paragraph 63, and in Nexans and Nexans France v Commission, C‑37/13 P, EU:C:2014:2030, paragraphs 31 and 32 and the case-law cited).
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