Luxembourg releases $1.7 billion of Iran’s assets

A sum of $1.7 billion of Iranian assets were released in Luxembourg following a ruling issued by the European country’s Supreme Court.

After the ruling of the Supreme Court of Luxembourg, judicial obstacles to Iran accessing $1.7 billion of the foreign currency assets of the Central Bank of Iran (CBI) were removed, according to IRNA.

The foreign currency assets of the Central Bank of Iran, kept in the Clearstream Banking Institute of Luxembourg, had been seized in 2020.

They were released on September 28 as per the ruling issued by the Supreme Court of Luxembourg.

In the wake of the protest and legal pursuits of Iran, the Supreme Court of Luxembourg admitted the logical reasons of the Central Bank of Iran and overturned the previous ruling of the court in this regard and, finally, the Iranian foreign exchange resources were released on September 28.

These resources are now available to the Central Bank of Iran.