On March 6, The New York Times reported that a Luxembourg court has ordered the freezing of $1.6 billion of Central Bank of Iran (CBI) assets. The move came after a group of victims of the Sept. 11 attacks, who had won a default judgment against Iran in the United States, filed a lawsuit in the European court to try to enforce the ruling. The administration of moderate President Hassan Rouhani, coming under fire from hard-line media, has pinned the new asset freeze on the previous government of Mahmoud Ahmadinejad.
On March 7, Deputy Foreign Minister for European and American Affairs Majid Takht-Ravanchi said, “This is not a new development, and the asset freeze took place before negotiations on the nuclear accord began.” The nuclear deal was signed between Iran and six world powers in July 2015, following almost two years of talks. Ever since its implementation, Iranian hard-liners have been complaining that the accord is not in the interest of Tehran, with the West not honoring some of its commitments. Takht-Ravanchi added that CBI lawyers are currently consulting Luxembourg lawyers to help Tehran access the funds in question.
On the same day, a CBI official announced that the US court ruling is contrary to international law and lacks power of enforcement in Luxembourg. The director general of the CBI’s Legal Affairs Department, Ardeshir Fereydouni, said that following the issuing of default judgments against Iran by US courts, certain American plaintiffs have sought to recognize and enforce the rulings in other countries. He said that the assets have not been seized, but rather that the Luxembourg court is busy reviewing the case and addressing the question of whether the ruling issued by the US court can be recognized and enforced in Luxembourg. “Absolutely, as long as the investigations are not complete and the court [Luxembourg] ruling has not been issued, Iran’s assets in Luxembourg cannot be accessed or withdrawn in favor of the plaintiffs,” Fereydouni said.
CBI chief Valiollah Seif said March 8, "The Luxembourg court hasn’t accepted the US court ruling to seize the assets of Iran." He reiterated that CBI lawyers are pursuing the matter. Seif also predicted that the US claimants would likely be unsuccessful in their endeavor.
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