The International Court of Justice, ICJ, has ordered the United States to pay compensation to Iranian companies after ruling that Washington had illegally allowed courts to freeze their assets. The United Nations' top court, also known as the World Court, did not specify the exact amount in its ruling on Thursday but said it would be determined in a later phase.

In a blow for Tehran, however, the tribunal in The Hague said it did not have jurisdiction over $1.75bn in frozen assets from Iran's central bank held in a Citibank [!] account in New York, by far the largest amount claimed back by Tehran.
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the ICJ ruled that it was still in place at the time of the freezing of the assets of Iranian commercial companies and entities, and that therefore Washington violated the treaty. According to the judges, however, the court has no jurisdiction over the $1.75bn in assets held by the US because Iran's central bank - known as the Bank Markazi - is not a commercial enterprise, and thus not protected by the treaty.
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