Iran pursues appealing Luxembourg court decision in confiscating country's assets; CBI

Iran’s Central Bank announced on Monday that recent decision by a Luxembourg court in confiscating Iran’s asset does not necessarily mean implementing the US court decision and  the organization in collaboration with presidential International Legal Collaboration Office would appeal Luxemburg court ruling.

 “Due to the ongoing years of sanctions and financial limitation, these documentation and assets have practically long been unavailable from us and not only they were inaccessible but also there wasn’t any possibility of their movement or transfer” the statements followed.

The Iranian Central Bank in its statement also pointed out its efforts in shrinking the role of dollar in its financial transactions and stressed that concurrent to heightening sanctions against the country, Tehran has put efforts in reducing the dollar’s share in its assets and has targeted the aim gradually but consistently.

The statement reads that the policies are followed today and since Iran is receiving its oil related income through American dollar, abrupt freeze of the process is not conceivable.

“The measures would help lower the risks that have been exposed by sanctions and further limitations in international trade. They also have financially and economically noticeable benefits which will be pointed out later” the statement further reads.

The issued statement by top Iranian financial organization also criticized US actions in delivering what it called terroristic court ruling against Iran and told that such measures are violating international regulations and conventions.

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