Central bank: an independent company or a sovereign Organ ( Emphasizing the judgment of the International Court of Justice on March 30, 2023)

Document Type : academic

Authors

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 maintaining the value of money) in the first category, the court found a violation of the Treaty and the discriminatory behavior of the United States towards the central bank, which the court It is considered as a company (in the field of its commercial activity) and it has caused the condemnation of America. In the end, the Court has not accepted United States claimes , simultaneously The international court of justic has confirmed its objection to jurisdiction regarding the violation of property immunity and has given the Islamic Republic of Iran a two-year deadline to compensate for the damage . In this article, we are trying to analyze the commercial performance of Central Bank of Iran and critisize the judgment of the court in the jurisdiction part.

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Articles in Press, Accepted Manuscript
Available Online from 16 March 2024
  • Receive Date: 28 January 2024
  • Accept Date: 12 February 2024