Tag: Central Bank of Iran

UN high court finds US seizure of Iranian assets violated treaty + More

Ms. Cat

In 2016, the U.S. Supreme Court ordered nearly $2 billion in assets of Iran’s state bank, frozen in the U.S., to be paid as compensation to relatives of victims of attacks linked to Iran.

UN high court finds US seizure of Iranian assets violated treaty

Related:

International Court of Justice orders US to compensate Iran for frozen assets

ICJ judgments are legally binding, however, the court has no means of enforcing them. Previously, both the US and Iran have ignored the court’s judgments.

US Hails ICJ Ruling On Iran Assets As ‘Major Victory’

“The court’s decision today rejected the vast majority of Iran’s case, including notably Iran’s claims on behalf of Bank Markazi,” said acting legal adviser Rich Visek of the US State Department.

No, Biden Can’t Just Sell Off Seized Russian Yachts and Central Bank Assets to Help Aid Ukraine – International Law and the US Constitution Forbid It

Ms. Cat

Posted by Yves Smith

Yves here. It is instructive to see that a law professor who served as an expert witness for Naftogaz, the Ukrainian national oil and gas company, after Russia seixed its operations in Crimea, is concerned enough about the prospect of the Biden Administration selling confiscated Russian assets to speak up and advise against it.

However, I have my doubts that the US has been as scrupulous about not selling assets of sanctioned and belligerent nations as Professor Stephan suggests. Iraq owned a magnificent, very wide townhouse on East 80th Street between Park and Lexington as its embassy. It was promptly seized after the war started and sold within a couple of years. I sincerely doubt the proceeds were remitted to the new government.

No, Biden Can’t Just Sell Off Seized Russian Yachts and Central Bank Assets to Help Aid Ukraine – International Law and the US Constitution Forbid It