Central Bank of Iran (CBI) has filed a suit against the German company, Clearstream, and Italian Bank UBAE. Clearstream, owned by Deutsche Börse, provides settlement and custody services for securities. It is based in Luxembourg and is one of two European International Central Securities Depositories. Clearstream has been accused of freezing CBI’s assets over the past years, reports Handelsblatt.
Iran Central Bank has asked $4.9 billion USD of assets and interests. The article notes that 1.9 billion USD of this asset is no longer in the German entity’s possession. In 2013, Clearstream transferred this money to the US to compensate the families of 241 American soldiers killed in Lebanon. American government suspected that Iran was behind it.
In 2014 Deutsche Börse was heavily punished by American regulators. After the financial crisis in 2008, Deutsche Börse transferred Iranian assets from the USA to Europe. The US Treasury Department interpreted the act as violation of financial sanctions against Iran which costed Deutsche Börse 152 million USD of fine, says Handelsblatt report.
See the original article: Iran fordert Milliarden von Deutscher Börse