News ID: 273516
Published: 0236 GMT August 30, 2020

CBI: US lawsuit to seize Iran's assets in Germany doomed to fail

CBI: US lawsuit to seize Iran's assets in Germany doomed to fail
IRAN DAILY

The Central Bank of Iran (CBI) dismissed a lawsuit filed in the United States to force a European financial provider to transfer Iranian assets to the US.

"Like similar American legal attempts that have ended in Iran’s favor in recent years, this move by the US is also doomed to fail," Amir-Hossein Tayyebi Fard, a legal deputy to the CBI governor, said in a statement on Saturday, according to IRNA.

Tayyebi Fard stressed that Iran is seriously pursuing the case to prevent the potential confiscation of nearly $1.7 billion in securities belonging to Iran and held by Clearstream, a company based in Luxembourg which is a subsidiary of Germany’s stock exchange operator Deutsche Boerse.

“This issue is related to securities belonging to the CBI which has remained in Clearstream institution and has nothing to do with Germany,” he said, Press TV wrote.

The German stock exchange operator said on Friday that the creditors had filed the suit in a New York court seeking to require Clearstream to surrender assets that belong to Iran's central bank. It said the clearing house considers the claims to be unfounded and will take steps to defeat them.

Tayyebi Fard said the United States has failed in almost all legal actions it has taken in recent years to target the CBI funds in Europe, including a separate case in Luxembourg to have Iranian funds confiscated to pay for alleged victims of terrorism in the US.

The official said the reason for such repeated failures is the fact that European courts have recognized the financial independence of the CBI, a fact that he said has been clearly mentioned in some of verdicts issued in Iran’s favor against the will of US claimants.

US authorities have targeted Luxembourg-based Clearstream for years in an investigation over whether it violated US money laundering and Iran sanction laws. Deutsche Boerse has denied wrongdoing, according to Reuters.

In April, a top court in Luxembourg officially blocked a long-running request by the US administration to seize $1.6 billion worth of Iranian cash assets as compensation for alleged terror victims of the September 11, 2001 attacks in the United States.

Back in 2012, a New York court claimed there was evidence to show that Iran provided “material support and resources” to Al-Qaeda operatives that carried out the terrorist attacks in the US in 2001.

The New York court awarded the plaintiffs damages of over $7 billion.

Iran has denied any links to Al-Qaeda or any involvement in the 9/11 attacks.

Tensions have escalated between Washingtonian and Tehran particularly after President Donald Trump reinstated US sanctions on Iran in May 2018 after he unilaterally left the 2015 nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), signed between Iran and major world powers.

The International Court of Justice (ICJ) – known as the World Court – has ordered the US to lift the sanctions it has illegally re-imposed on humanitarian supplies to Iran.

 

 

 

 

 

 

   
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