Economy Minister: US Attempt to Seize Iran’s Assets against Int'l Law

TEHRAN (Tasnim) – Iran's Minister of Economic Affairs and Finance Ali Tayyebniaa deplored attempts by the US administration to seize Iran’s assets in Luxembourg as a violation of international law.

Economy Minister: US Attempt to Seize Iran’s Assets against Int'l Law

Speaking to reporters on the sidelines of a cabinet session in Tehran on Wednesday, Tayyebniaa pointed to the US move to put a freeze on $1.6 billion in assets belonging to the Central bank of Iran, saying it is in conflict with international law.

“It is a strange move that an American citizen goes to a European court and lodge a complaint about assets that are not within the scope of authority of the US,” he noted.

The minister further emphasized that Iran expects the Luxembourg court addressing the case to deliver a verdict in favor of the Islam Republic.

His comments came after The New York Times reported that a judge in Luxembourg has put a freeze on $1.6 billion in assets belonging to the Central bank of Iran.

Meanwhile, Iranian Deputy Foreign Minister Majid Takht Ravanchi has announced that the ruling dates back to the time before the onset of the nuclear negotiations between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) that resulted in the Joint Comprehensive Plan of Action (JCPOA).

According to the diplomat, the property is still in Europe and no new development has taken place recently, saying lawyers of the Central Bank of Iran and of the Luxembourgian company holding the assets are in consultation over the issue.

Over the last two decades, victims of terrorist attacks have racked up more than $50 billion in default judgments against Iran, according to New York Times.

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