On Tuesday, Iran initiated proceedings against the United States in the ICJ under the Treaty of Amity, Economic Relations, and Consular Rights, a bilateral treaty between the U.S. and Iran signed in 1955. According to the ICJ press release, Tehran claims that by subjecting the assets of Iran and Iranian State-owned entities, including the Central Bank of Iran (AKA Bank Markazi), to civil enforcement proceedings within its jurisdiction, the U.S.
Latest in Bank Markazi v. Peterson
Wednesday’s Supreme Court ruling in Bank Markazi v. Peterson concerns a mammoth sum of cash, and it has significant foreign policy implications. The obvious implications are the immediate ones—most immediately, Iranian displeasure. But there are also deeper legal implications for the division of power, particularly in foreign affairs, between the President and Congress.
Supreme Court Rules in Bank Markazi v. Peterson: Congress Did Not Exceed its Power and Victims Can Collect
Earlier today, the Supreme Court issued its ruling in Bank Markazi v. Peterson, a case we previewed last year when the Court first asked for the opinion of the Solicitor General during the certiorari process. In this case, the Iranian Central Bank appealed from a judgment allowing terror victims access to complexly held assets connected with the U.S. banking system.
How does the Supreme Court’s October Term 2015 look so far with respect to foreign relations and national security cases? The Court does not have any clear blockbusters like OT 2014’s Zivotofsky v. Kerry. Nevertheless, four potentially significant cases are already on the Court’s docket and cert petitions have been filed in a handful of others.