ICJ hears Iran arguments in asset freeze case against US

The UN’s top court has heard Iran’s arguments against the United States in a new showdown between the two sides over the freezing by Washington of billions of dollars worth of Iranian assets, just days after the tribunal handed Tehran a victory in a separate case.

The Hague-based International Court of Justice (ICJ) — the UN’s principal judicial organ — held the second hearing in the legal proceedings on Wednesday.

The session featured Iranian representatives make a case against the US freezing of billions of dollars in Iranian assets either inside or outside of America under domestic court rulings.

The court held the first hearing in the case on Monday, when American lawyers brought their arguments before the body, repeating Washington’s allegations against Iran of involvement in “terrorism” or “financing” it.

Iran had lodged the case with the court two years ago by invoking the Treaty of Amity, signed between Tehran and Washington in 1955.

The US has also argued that the ICJ does not have jurisdiction over the case. Washington quit the Treaty last week after it was defeated in the previous case over US sanctions on Iran, which was also based on the same deal.

The White House began reintroducing the bans in August after quitting a multilateral nuclear agreement with Iran.

In the verdict, the ICJ ordered that the United States lift the sanctions targeting “humanitarian” items.

The ICJ – also known after the World Court — was set up after World War II to rule on disputes between United Nations member states. Its rulings are binding.