Monday, December 10th | 2 Tevet 5779

Subscribe
October 8, 2018 8:37 am

US Rejects Iran’s Legal Claim to Recover $1.75 Billion in Frozen Assets

avatar by Reuters and Algemeiner Staff

Email a copy of "US Rejects Iran’s Legal Claim to Recover $1.75 Billion in Frozen Assets" to a friend

A display featuring missiles and a portrait of Iranian Ayatollah Ali Khamenei is seen at Baharestan Square in Tehran, Sept. 27, 2017. Photo: Nazanin Tabatabaee Yazdi / TIMA via Reuters.

The United States on Monday asked judges at the International Court of Justice to throw out a claim by Iran to recover $1.75 billion (1.5 billion euros) in national bank assets seized by US courts.

The US Supreme Court ruled in 2016 that the assets must be turned over to American families of victims of the 1983 bombing of a US Marine Corps barracks in Beirut, among others.

The hearings at the tribunal were separate from Iran‘s claim relating to current US sanctions against Tehran.

Iran‘s claim in both cases is based on a 1955 Amity Treaty, which was signed 24 years before Iran‘s Islamic Revolution that turned the two countries into arch enemies.

Related coverage

December 9, 2018 12:54 pm
0

Jewish Groups Welcome Chilean Government Decision to Ban Municipal Boycotts of Israel

Top Jewish groups have welcomed a Chilean government decision made earlier this week to ban municipalities across the country from...

“The actions at the root of this case center on Iran‘s support for international terrorism,” Richard Visek, legal adviser to the US Department of State, said on Monday, calling on the court to reject Iran‘s suit.

Washington announced last week it would withdraw from the Amity Treaty after the tribunal ordered the US to ensure that sanctions against Iran do not affect humanitarian aid or civil aviation safety.

It will take a year for a withdrawal from the Amity Treaty to take effect and Iran‘s case against the asset seizure, which was filed in 2016, will continue regardless.

The hearings in The Hague will run until Friday and focus on US objections to the UN’s highest court’s jurisdiction. No date for a ruling has been set.

Share this Story: Share On Facebook Share On Twitter Email This Article

Let your voice be heard!

Join the Algemeiner

Algemeiner.com