International Law Review

International Law Review

The Individual Opinions of the ICJ Judges in the Certain Iranian Assets Case: Exclusion of Bank Markazi from the Scope of the Treaty of Amity

Document Type : academic

Author
Professor, Department of Law, Faculty of Law, Bu-Ali Sina University, Hamedan, Iran,
Abstract
This research examines the individual opinions expressed by judges of the International Court of Justice (ICJ) in the case of "Certain Iranian Assets", specifically focusing on the issue of excluding Bank Markazi (Central Bank of Iran) from the treaty's purview. The case revolves around Iran's effort to lift the seizure of approximately two billion dollars of assets held by the Bank Markazi of Iran in the United States, citing a violation of the Treaty of Amity. While the majority of judges agreed with excluding the Bank from the scope of the Treaty, a minority of five judges held a dissenting opinion. The core of contention among the judgescentered on whether the purchase and holding of twelve bonds by the Central Bank of Iran should be considered as a sovereign act or a commercial act. This research aims to analyze the reasoning employed by both the majority and minority judges in arriving at their respective conclusions. The study recruits a descriptive-analytical method, relying on library sources for data collection. Findings show that although the majority opinion did not secure Iran’s material interests in this case, it emphasized the sovereign nature of the purchase of bonds by theBank, thereby safeguarding Iran’s ultimate interests in maintaining the Bank’s immunity against actions by other governments.
Keywords

Subjects


  1.  

    - Books

    1. Badmus-Busari, Faizah. Sovereign Immunity and Enforcement of Awards in International Commercial Arbitration, LLM Thesis, Tulane University:
    2. Stewart P. David. The Foreign Sovereign Immunities Act: A Guide for Judges, Washington DC: Federal Judicial Center, 2018.
    3. Wittich, Stephan. “Article 2 (1)(c) and (2) and (3)”, in Philip Alston and Vaughan Lowe (eds.), The United Nations Convention on Jurisdictional Immunities of States and Their Property, Oxford University Press, 2013, pp. 54-72.

     

    - Articles

    1. Harten, Gus van. “The Public-Private Distinction in the International Arbitration of Individual Claims against the State”, International & Comparative Law Quarterly 56, no. 2, (April 2007): 371-393.
    2. White, C. A. Robin. “The State Immunity Act 1978”, The Modern Law Review 42, no. 1, (January 1979): 72-79.
    3. Schroeder, Hans-Patrick, and Tanja v. Pftzner, “Recent Trends Regarding Dissenting Opinions in International Commercial arbitration”, Yearbook on International Arbitration 2, (2012): 133-134.

  • Receive Date 30 January 2024
  • Accept Date 12 February 2024