Iran’s central bank says Sunday it will appeal Luxembourg’s decision to freeze $1.6 billion of its assets, which the US is claiming as compensation for victims of the September 11, 2001, attacks.
The bank also says it will take steps to curb its remaining transactions in dollars, which it still receives particularly for oil sales.
In response to fresh US sanctions announced since last month, “Iran has sought to limit its dependence on the dollar… this policy will continue,” the bank says in a statement published by state media.
A Luxembourg court last week denied Tehran’s request to retrieve the $1.6 billion frozen in the country during an earlier raft of sanctions targeting Iran’s nuclear program.
US lawyers are hoping to seize the money to pay off the families and estates of victims from the 2001 attacks, after a New York judge ruled Iran was partially responsible because it allowed al-Qaeda members to travel through its territory.
— AFP
Help us report truthfully on social media
As a multimedia journalist, my job is to take the quality, fact-based journalism produced by The Times of Israel newsroom and make it accessible across every platform — from Instagram posts to podcasts to short-form videos.
This is how many, especially young people, consume news these days. But misinformation is rampant on social media. Our team at ToI produces accurate, responsible short-form reporting on Israel and the Jewish world.
If you believe in the importance of factual social media journalism, please consider joining our reader support group, The Times of Israel Community. Your financial support is essential to sustain responsible multimedia reporting.
— Gabriella Jacobs, multimedia journalist
Support our work
Support our work
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
From the Liveblog of
Sunday, March 26, 2017
Add ToI as a Preferred Source on Google
