International Law Review

International Law Review

Central Bank: an Independent Company or a Sovereign Organ (with an emphasis on the judgment of the International Court of Justice issued on March 30, 2023)

Document Type : academic

Authors
Alireza Mashhadizadeh 1
Amirhossein Ghodratnama shabestari 2
1 Assistant Professor, Faculty of Law - Central Tehran Branch, Islamic Azad University- Iran
2 PhD Student of Private Law , North Tehran Branch, Islamic Azad University- Iran
10.22066/cilamag.2024.2021470.2500
Abstract
The decision of the International Court of Justice on March 30, 2023, is a significant achievement in the legal field of various claims between the Islamic Republic of Iran and the United States.
the International Court of Justice has divided central bank’s activities into two categories: 1- Commercial activities (banking operations, credit operations, buying and selling) 2- Sovereign actions (such as preserving the value of money and creating financial transparency) in the first category, the court found the United States in violation of the Treaty of Amity, Economic Relations and Consular Rights between the United States and Iran Tehran and by considering the Central Bank as a company (in the field of its commercial activity), affirmed the discriminatory behavior of the United States against it and accordingly condemned the United States . At the end, the Court did not accept the United States’ claims and while rejecting its jurisdiction over the violation of the Central Bank’s property immunity, set a two-year deadline for the parties to negotiate over the compensation of damages. In this article, we sought to analyze the commercial performance of the Central Bank of Iran and criticize the judgment of the Court in the jurisdiction part.
Keywords
International Court of Justice
independence of the Central Bank
The Amity Treaty
sovereign acts
and commercial acts

Subjects

  1. - Cases and Documents:

    1. Certain Iranian Assets (Islamic Republic of Iran v. United States of America) 2023.
    2. Deborah Peterson et al. v. Islamic Republic of Iran.
    3. Certain Iranian Assets, Separate opinion of Judge ad hoc Momtaz.
    4. Iran Threat Reduction and Syria Human Rights Act of 2012.
    5. Annuaire de la commission du droit international, 1991, vol. 2.
    6. Oil Platforms (Islamic Republic of Iran v. United States of America), Preliminary Objection, Summary of the Judgment, 12 December 1996.
    7. Certain Iranian Assets (Islamic Republic of Iran v. United States of America) Preliminary Objections Judgement of 13 February 2019.
    8. Treaty of Amity, Economic Relations and Consular Rights between the United States and Iran, Tehran

  • Receive Date 28 January 2024
  • Accept Date 12 February 2024