Iran to fight US suit to seize $1.7 billion held by Deutsche Boerse unit

Iran's central bank plans to take legal steps to counter a lawsuit filed in a US court by creditors seeking to seize $1.7 billion of its assets held by Deutsche Boerse's Clearstream unit.

The German stock exchange operator said earlier the creditors had filed the suit in a New York court seeking to require Clearstream to surrender assets that allegedly belong to Iran's central bank. It said the clearing house considers the claims to be unfounded and will take steps to defeat them.

Amir Hossein Tayyebi Fard, a deputy governor of the Iranian central bank, said in a statement on Saturday: "After repeated legal defeats in Luxembourg, the US plaintiffs are seeking legal action in US courts against Clearstream. Serious legal action is also underway to counter these measures."

The assets are worth $1.7 billion, according to the statement posted on the bank's website.

US authorities have targetted Luxembourg-based Clearstream for years in an investigation over whether it violated US money laundering and Iran sanction laws. Deutsche Boerse has denied wrongdoing.

In 2019, a Luxembourg court refused to enforce a US ruling that would have helped families of victims of the September 11, 2001 attacks claim Iranian assets held with Clearstream.

In 2012, a New York court found there was evidence to show that Iran provided “material support and resources to al Qaeda for acts of terrorism”. The militant group carried out the hijacked plane attacks on New York and Washington.

That court awarded the plaintiffs damages of over $7 billion. Iran denies any links to Al Qaeda or any involvement in the September 11 attacks.