Tuesday, January 18, 2022

Luxembourg Blocks US Request to Transfer $1.6 Billion of Iran Assets

More Articles

Avatar of IFP Editorial Staff
IFP Editorial Staffhttps://ifpnews.com/ifp-editorial-staff
The IFP Editorial Staff is composed of dozens of skilled journalists, news-writers, and analysts whose works are edited and published by experienced editors specialized in Iran News. The editor of each IFP Service is responsible for the report published by the Iran Front Page (IFP) news website, and can be contacted through the ways mentioned in the "IFP Editorial Staff" section.
A court in Luxembourg has rejected the United States' request to transfer $1.6 billion in Iranian assets to victims of the September 11 attacks.

In an official statement on Monday, Luxembourg announced an appeals court on April 1 found the US seizure demand inadmissible.

The decision confirms earlier remarks by Iran’s President Hassan Rouhani who said on Sunday the country had won a legal victory over the assets that had long been frozen on a US request in Luxembourg.

During a cabinet meeting, Rouhani said “Iran’s central bank and foreign ministry have recently won a very good victory in a legal battle. $1.6 billion of our money was in Luxembourg and the Americans had put their hands on it.”

The money is held in the Clearstream clearing house, a financial company owned by Deutsche Boerse based in Luxembourg.

A New York court in 2012 ordered Iran to pay $7 billion in damages over the September 11 attacks, claiming that Tehran had aided Al-Qaeda by allowing its militants to travel through its territory.

Iran has rejected the allegation and refused to pay the sum.

Latest article