Bank of Tokyo-Mitsubishi UFJ, which handles most of Japan's payments for oil imports, released Iran's assets.
At the behest of the New York District Court, the Bank of Tokyo-Mitsubishi UFJ had temporarily halted transactions with Tehran and its Central Bank. The megabank had also frozen the assets it holds of those entities in the United States.
It took the action in response to an order by the court, dated May 2, covering accounts in the bank held by the Iranian government and Central Bank, as the bank handles almost all of the trade settlements involving Japan and Iran.
The Head of the Presidential Center for International Legal Affairs Majid Jafarzadeh said Iran's assets were released in Bank of Tokyo-Mitsubishi UFJ which has led to a big legal success for the country, adding the issue shows the U.S. courts' weakness in issuing verdicts against the Islamic Republic of Iran.
The U.S. accused Iran of carrying out terrorist attacks in Lebanon and called on the country to pay $2.6 billion (200 billion yen) in compensation for its involvement in the alleged terrorist acts in Lebanon in 1983, Iran has not paid up, leading to the court order.
... Payvand News - 06/24/12 ... --