Issuing and Executing of the US Courts Judgments against the Assets of the Central Bank of Iran from the Perspective of International Law and the US Law

In April 20, 2016 the Supreme Court of the United States confirmed the execution of the US Courts judgments in Case of Peterson et al against assets of the Central Bank of Iran. The Supreme Court held that the execution of judgments against assets of the Central Bank is not in contradiction with the Principle of Separation of Powers set out in the US Constitution. This judgment which reflects the position of the highest court in the United States with respect to the immunity of Central banks and its property would affect the judgments of inferior courts in the United States. Up until 2012 the Central Bank of Iran and its property was immune under American Law. In thatyear, the US Congress adopted Iran Threat Reduction and Syrian Human Rights Act by which the assets of Central Bank of Iran were blocked and allowed the American judgment creditors to enforce the Judgments against the Government of Iran from assets of Central Bank of Iran. The measure of Congress in adoption of the Act and consequently the execution of judgments against assets of Central Bank of Iran are without merit. Under Customary International Law, Central Banks and their properties are having immunity and the properties cannot be subject to the execution of judgments which are issued against States.