Government Special Task Force Emphasizes Judicial Review of 'Negligence in Asset Seizure'

The government's special task force investigating the seizure of two billion dollars of Iranian assets has accused officials of the previous administration of failing to remove these assets from the U.S. 'despite warnings from foreign sources and relevant domestic centers.' The task force has called for the judiciary to address 'any negligence, misconduct, or loss of opportunities' in this matter. According to the state news agency IRNA, the task force's report, published on Tuesday, May 16, also requested that 'further investigation and decision-making' on this issue be pursued not only by the government but also by the Supreme National Security Council. The Iranian government task force noted that dollar bonds purchased by the Central Bank of Iran between 1999 and 2008 were deposited with Clearstream, 'a registered securities firm in Luxembourg,' and were held in this company's account at Citibank in New York. The report states that in February 2008, the Central Bank transferred all its bonds at Clearstream to an Italian bank named UBAE and sold 'a small amount' of them, but this bank also deposited these bonds in an account named UBAE Client at the same Clearstream institution. The special task force indicated that despite the fact that it was clear from 2008 onwards that the purchased bonds 'were at risk,' the Central Bank 'only sold a small portion of them despite multiple warnings' and merely transferred the bonds 'from one account at Clearstream to another' in 2009. The task force accused officials of the previous government of failing to take 'effective action' to remove Iranian assets from the reach of the U.S. judicial system, despite U.S. sanctions, court rulings in that country, and 'warnings from foreign sources, relevant domestic centers, and high institutions.' The report emphasized that such warnings were 'reflected in reports and correspondence from senior officials and authorities in the country.' On April 20 of this year, the U.S. Supreme Court ruled that two billion dollars of Iran's blocked assets in the U.S. should be paid to the families of American victims of several terrorist operations linked to Tehran, including the 1983 bombings at the U.S. Marine Corps headquarters and French soldiers in Beirut, Lebanon. Following this, the government of Hassan Rouhani established a task force on Tuesday, May 7, led by the Minister of Economy and including the Ministers of Foreign Affairs, Intelligence, Justice, and the head of the Central Bank, to investigate the ruling on the seizure of two billion dollars of Iranian assets in the U.S. Current government officials have attributed the seizure of assets to the actions of former President Mahmoud Ahmadinejad's administration in purchasing U.S. government bonds and failing to remove these assets after sanctions. In response, Ahmadinejad's office did not deny the purchase of these bonds during his administration but attributed the seizure of the two billion dollars to the 'weakness' of Hassan Rouhani's government on the international stage and the 'arrogance' of American officials. Akbar Turkan, a senior advisor to Hassan Rouhani, has also called for the Iranian judiciary to prosecute Ahmadinejad's officials for purchasing bonds from the U.S. and investing in this 'hostile country.' Meanwhile, the Iranian government task force in its report noted that this case is not merely a specific legal, political, or banking issue and suggested that further investigation and decision-making on this matter should also be pursued by the Supreme National Security Council. The task force also recommended that the judiciary 'pursue and take action regarding any negligence, misconduct, or loss of opportunities in protecting the country's assets.' The task force labeled the U.S. Supreme Court's action as 'international piracy' and stated that this action is 'unprecedented in the history of judicial proceedings.' Officials of the Islamic Republic have strongly criticized the seizure of two billion dollars of Iranian assets, and the President of Iran has stated that Tehran will pursue this matter in an 'international court.' The Iranian Parliament on Sunday approved an urgent proposal to 'obligate the government to pursue damages from the U.S. against Iran,' which, if finalized, will require the government to take actions to seek compensation from the U.S. for ten actions taken against Iran over the past 63 years.