Content of Legal Opinions and Decisions Resulting from Sanctions on the Central Bank of Iran

Abstract

Following the imposition of United Nations Security Council sanctions against Iran, the United States and several organizations and member states of the European Union implemented unilateral sanctions that extended beyond the resolutions adopted by the Security Council. The Council of the European Union has independently adopted various and numerous sanctions against Iranian banks through separate resolutions. European Union sanctions are binding on all member states, and the lifting of these sanctions by the Council of the European Union is conducted through the approval of a proposal within this Council. Moreover, according to the substantive rules of international law, such as the principle of immunity of central banks, the Central Bank is free to conduct international banking transactions and operates independently from the government, and therefore, imposing sanctions against it is not permissible. This research examines the content of various legal opinions and decisions resulting from the sanctions on the Central Bank of the Islamic Republic of Iran. Initially, some of the most important regulations, decisions, and resolutions of the European Union Council, European Court of Justice rulings, and European countries' decisions, including the United Kingdom's resolutions related to the sanctions on the Central Bank of Iran, will be discussed. Subsequently, the opinions and decisions of the United States will be examined, with the first section focusing on related rulings and the second section on the executive orders of the President, Congressional legislation, and Treasury Department resolutions.