Feb 05, 2017 09:53 UTC
  • International Court of Justice (ICJ)
    International Court of Justice (ICJ)

Iran says a lawsuit that it had submitted to the International Court of Justice (ICJ) – the principal judicial organ of the United Nations – against the United States last summer for freezing billons of its assets has been officially put in motion.

Iran’s IRNA news agency quoted a statement by Iran’s Presidential Office as saying that the lawsuit concerned the freezing of $2 billion of the assets of the Central Bank of Iran (CBI) by the US and had been originally filed with the ICJ last June.   

The statement said Iran had recently presented to the Court a precise evaluation of the reparations owed by the US through four volumes of collections of document with a total of above 2,000 pages. 

The statement further added that preparing the documents that had taken seven months was a necessary step for the start of the ICJ proceedings.    

It also emphasized that Washington’s seizure of Iran’s assets was against the Treaty of Amity, Economic Relations, and Consular Rights which had been signed between the two countries in August 1955 – referred to as the 1955 Treaty – which it said was “still effective”.

Other assets that had been mentioned in the lawsuit were those that belonged to Iranian companies but had been confiscated in the US by virtue of what the country’s Presidential Office described as “baseless” rulings by American courts.

The Iranian government accordingly urged the ICJ to call on the US to stop its violations of international obligations created as a result of accords such as the 1955 Treaty and make full reparations to Iran for damages thus inflicted on the Islamic Republic.

The statement of Iran’s Presidential Office further added that the US under ICJ rules would have until 1 September 2017 to respond to Iran’s lawsuit.  The Court would accordingly invite both parties to hearings before issuing a final judgment.