The International Court of Justice has announced that the United States violated international law by freezing certain Iranian assets and ordered compensation. The judges ruled today, Thursday, that they do not have jurisdiction to rule on the case concerning the freezing of assets of the Iranian Central Bank, valued at over $1.57 billion, but added that the case will continue as the court determined it might have authority regarding some additional assets owned by other Iranian companies that have been frozen by U.S. authorities.
Court President Kirill Georgiev stated, "Iran is entitled to compensation and both parties have 24 months to agree on its value. If that fails, the court will initiate new proceedings to determine the amount that must be paid."
The United States argues that the lawsuit should be dismissed entirely because Iran's "hands are stained" and that the asset seizure was a result of Tehran's alleged support for terrorism. Tehran denies its support for global terrorism.
Tehran initially brought the case before the International Court of Justice against Washington in 2016, claiming violation of a Friendship Treaty signed in 1955, allowing U.S. courts to freeze the assets of Iranian companies, including $1.75 billion from the Iranian Central Bank, which was to be paid as compensation for victims of terrorist attacks.
