Vice-President of the UN International Court of Justice (ICJ), Kirill Gevorgian, said on Thursday that the Court ruled that the partial freeze of Iranian assets by the US is illegal and that the US is now required to pay compensation for the consequences and violations of international obligations.

The official pointed out that the US has effectively violated its commitments under the Treaty of Amity, Economic Relations, and Consular Rights of 1955 with Iran.

It is now faced with the obligation to pay Tehran compensation, however, the amount has yet to be determined at later stages in case, Gevorgian noted.

Iranian Foreign Ministry commented on the issue saying the International Court of Justice's ruling is evidence of the legitimacy of Iran's positions and an expression of the illegal behavior of the US government.

See here @CIJ_ICJ's press release re it's decision today, explaining that the court found the US to have violated a 1955 treaty when it froze millions of Iran's assets. The ICJ's decision–including that the US must compensate Iran for its actions–cannot be appealed. https://t.co/PWqyiVLQch pic.twitter.com/05NiuMUb6W

— jekubi 🕊 🇺🇦 🌻 (@jekubi) March 30, 2023

Tehran petitioned the International Court of Justice (ICJ) in 2016 after the US Supreme Court ordered the freezing of $2 billion in Iranian assets over unfounded, trumped-up accusations.

Iran brought up the case to The Hague over the US' violation of the 1955 Treaty of Amity with the United States.

Tehran accuses the US of usurping Iranian financial assets and those of Iranian firms, and with Iran overburdened with economic difficulties as a result of sanctions and skyrocketing consumer costs, it is critical for the country to retrieve its financial rights.

Washington has attempted unsuccessfully to invalidate the lawsuit by claiming that Iran's "unclean hands" should disqualify its lawsuit to reclaim the $2 billion in assets.

Read more: Iran launches legal battle at UN to free billions stolen by US