Iran Fights U.S. Bid to Steal $1.7 Billion
TEHRAN (Dispatches) -- Iran’s central bank said on Saturday it was taking legal steps to counter a lawsuit filed in a U.S. court seeking to seize $1.7 billion of its assets held by Deutsche Boerse’s Clearstream unit.
The German stock exchange operator said earlier Americans had filed the suit in a New York court seeking to require Clearstream to surrender assets that allegedly belong to Iran’s central bank. It said the clearing house considers the claims to be unfounded and will take steps to defeat them.
Amir-Hussein Tayyebi-Fard, a deputy governor of the Iranian central bank, said in a statement: "After repeated legal defeats in Luxembourg, the U.S. plaintiffs are seeking legal action in U.S. courts against Clearstream. Serious legal action is also underway to counter these measures.”
Tayyebi-Fard did not give details of the bank’s legal measures to prevent a seizure of the assets which he said were worth $1.7 billion, according to the statement posted on the bank’s website.
U.S. authorities have targeted Luxembourg-based Clearstream for years in an investigation over whether it violated Iran sanction laws. Deutsche Boerse has denied wrongdoing.
In 2019, a Luxembourg court
The German stock exchange operator said earlier Americans had filed the suit in a New York court seeking to require Clearstream to surrender assets that allegedly belong to Iran’s central bank. It said the clearing house considers the claims to be unfounded and will take steps to defeat them.
Amir-Hussein Tayyebi-Fard, a deputy governor of the Iranian central bank, said in a statement: "After repeated legal defeats in Luxembourg, the U.S. plaintiffs are seeking legal action in U.S. courts against Clearstream. Serious legal action is also underway to counter these measures.”
Tayyebi-Fard did not give details of the bank’s legal measures to prevent a seizure of the assets which he said were worth $1.7 billion, according to the statement posted on the bank’s website.
U.S. authorities have targeted Luxembourg-based Clearstream for years in an investigation over whether it violated Iran sanction laws. Deutsche Boerse has denied wrongdoing.
In 2019, a Luxembourg court
refused to enforce a U.S. ruling that would have helped alleged families of victims of the Sept. 11, 2001 attacks claim Iranian assets held with Clearstream.
The official statement in Luxembourg said that an appeals court found the U.S. seizure demand "inadmissible” since the type of account in question was "unseizable” according to national law.
The money is held in the Clearstream clearing house, a financial company owned by Deutsche Boerse based in Luxembourg.
However, the statement added that the ruling was not final and could be appealed at Luxembourg’s highest court.
Tensions between Tehran and Washington have risen sharply since President Donald Trump in 2018 withdrew from a nuclear accord and reimposed stinging sanctions.
In 2012, a New York court awarded the plaintiffs damages of over $7 billion. Iran denies any links to Al-Qaeda or any involvement in the Sept. 11 attacks.
Iran has rejected the accusation and refused to pay the money leading U.S. authorities to demand asset seizures wherever they can.
Iran’s assets held in foreign banks have been subject to a witch hunt by the Americans who have used Washington’s animosity toward the Islamic Republic to easily win lawsuits against the country in U.S. courts. Iran has denounced U.S. seizures of its frozen assets in the United States as "highway robbery” and hauled the United States before the International Court of Justice (ICJ) at The Hague.
The official statement in Luxembourg said that an appeals court found the U.S. seizure demand "inadmissible” since the type of account in question was "unseizable” according to national law.
The money is held in the Clearstream clearing house, a financial company owned by Deutsche Boerse based in Luxembourg.
However, the statement added that the ruling was not final and could be appealed at Luxembourg’s highest court.
Tensions between Tehran and Washington have risen sharply since President Donald Trump in 2018 withdrew from a nuclear accord and reimposed stinging sanctions.
In 2012, a New York court awarded the plaintiffs damages of over $7 billion. Iran denies any links to Al-Qaeda or any involvement in the Sept. 11 attacks.
Iran has rejected the accusation and refused to pay the money leading U.S. authorities to demand asset seizures wherever they can.
Iran’s assets held in foreign banks have been subject to a witch hunt by the Americans who have used Washington’s animosity toward the Islamic Republic to easily win lawsuits against the country in U.S. courts. Iran has denounced U.S. seizures of its frozen assets in the United States as "highway robbery” and hauled the United States before the International Court of Justice (ICJ) at The Hague.