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World Court Rules U.S. Illegally Froze Iranian Assets

HeadlineApr 05, 2023

The International Court of Justice ruled the U.S. illegally froze the assets of Iranian companies, and ordered the U.S. to pay compensation. But the ICJ also said it did not have jurisdiction over $1.75 billion from Iran’s central bank that’s being held at Citibank in New York. Both Tehran and Washington claimed victory in the rulings from the ICJ, also known as the World Court. The U.S. froze the assets to serve as compensation for victims of a 1983 bombing in Lebanon and other attacks it says were linked to Iran. Though ICJ rulings are binding, there is no mechanism for enforcing them.

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