World Court rules US was wrong in freezing some Iranian assets, must pay compensation 

The International Court of Justice (‘ICJ’) has ruled that the United States was wrong to freeze the assets of some Iranian companies and must now pay compensation. But in a setback for Tehran, it also said it did not have jurisdiction over $1.75 billion in frozen assets from Iran’s central bank that Tehran wants back.

The court, the principal judicial organ of the United Nations, said that the United States had ‘violated its obligation’ under a 1955 treaty with Iran which agreed that the property of nationals and companies of the contracting parties ‘shall not be taken except for a public purpose, nor shall it be taken without the prompt payment of just compensation.’

The court also found that the United States ‘is under obligation to compensate the Islamic Republic of Iran for the injurious consequences of the violations of international obligations’ referred to in the treaty.

It added that, failing agreement between the two on the amount of compensation, the court will make the decision within 24 months from the date of the present judgment.

https://www.icj-cij.org/sites/default/files/case-related/164/164-20230330-PRE-01-00-EN.pdf