Top UN court rejects Iranian bid to free assets frozen by US

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Top UN court rejects Iranian bid to free assets frozen by US
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Tehran sought to free $2 billion in central bank funds frozen by U.S. authorities to be paid in compensation to victims of a 1983 bombing in Lebanon and other attacks linked to Iran.

THE HAGUE, Netherlands — The United Nations’ top court has rejected Tehran’s legal bid to free up some $2 billion in Iranian central bank assets frozen by U.S. authorities to be paid in compensation to victims of a 1983 bombing in Lebanon and other attacks linked to Iran.

But the largest part of the case focused on Bank Markazi, and its frozen assets of $1.75 billion in bonds, plus accumulated interest, that are held in a Citibank account in New York. The court said that it did not have jurisdiction based on the 1955 Treaty of Amity.THE HAGUE, Netherlands — The United Nations’ highest court is set to rule Thursday in a case filed by Iran against the United States over frozen Iranian assets worth some $2 billion that the U.S.

At stake are $1.75 billion in bonds, plus accumulated interest, belonging to the Iranian state but held in a Citibank account in New York.

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