Iran to appeal Luxembourg's ruling on freezing assets

TEHRAN, Mar. 27 (MNA) – The Central Bank of Iran (CBI) says the country will appeal Luxembourg's recent decision to freeze $1.6 billion of the Islamic Republic’s assets. “The recent decision of a court in Luxembourg in seizing Iranian assets is not following the verdict of the American court and the Central Bank of Iran uses its full capacity to annul the verdict,” reads the formal statement of the Central Bank of Iran (CBI) released on Sunday. The statement also asserts that Iran will gradually change the share of US dollar currency in its assets. The statement reassures Iranian citizens that the decision made by the Luxembourger court is a preliminary measure and it can be changed according to the law of Luxembourg.