Loading ...Iran claims back $2.7bln previously frozen by Iraq under US sanctions
In March, the UN International Court of Justice (ICJ) ruled that the partial freeze of Iranian assets by the US is illegal and that the US is now required to pay compensation for the consequences and violations of international obligations. The ruling came despite Washington’s opposition, which requested that the “case should be dismissed in its entirety based on the principle of unclean hands,” without offering evidence of unlawful activities.
Kirill Gevorgian, vice-president of the court, stated how the US has effectively violated its commitments under the Treaty of Amity, Economic Relations, and Consular Rights of 1955 with Iran, now becoming obliged to pay Iran.
ISNA reported earlier this week that 24 billion dollars are scheduled to be soon unfrozen for Iran from Iraq and South Korea. South Korea will release $7 billion in assets, while Iraq will free more than $10 billion in assets, the most related to oil exports, the agency said.