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Iran to appeal Luxembourg's ruling on freezing assets

26 March 2017 17:20 (UTC+04:00)
Iran to appeal Luxembourg's ruling on freezing assets

The Central Bank of Iran (CBI) says the country will appeal Luxembourg's recent decision to freeze $1.6 billion of the Islamic Republic’s assets, IRNA reported.

The CBI through a statement on March 26 announced that it will continue to limit its dependence on the dollar.

A judge at Luxembourg court last week said that a last year verdict to freeze the assets of the Central Bank of Iran (CBI) in the country was legal.

The decision on the freezing of more than $1.6 billion of CBI assets at Clearance securities depository in Luxembourg came following a legal bid by the US claiming compensation from Iran for the victims of the September 11, 2001 attacks and their families over the Islamic Republic’s alleged role in the terror attacks.

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