International Court of Justice judges say Iran is entitled to compensation after the United States illegally allowed courts to freeze assets of Iranian firms.
World Court rules US was wrong to freeze Iranian assets
In a partial victory for Iran, judges at the International Court of Justice have ruled the United States had illegally allowed courts to freeze assets of Iranian companies and ordered the US to pay compensation, the amount of which will be determined later.
However, in a blow for Iran, the World Court said it did not have jurisdiction over $US1.75 billion ($A2.61 billion) in frozen assets from Iran’s central bank.
Acting Legal Adviser Rich Vise of the US State Department said in a written statement that the ruling rejected the “vast majority of Iran’s case,” notably where it concerned the assets of the central bank.
“This is a major victory for the United States and victims of Iran’s state-sponsored terrorism,” Vise added.