The public hearing has begun at the International Court of Justice (ICJ), a United Nations’ court which is open only to States for contentious proceedings, and to certain organs and institutions of the United Nations system for advisory proceedings. Though it is not a criminal court, its ruling can be based as an argument for UN level sanctions or removal. As the United States exit the Joint Comprehensive Plan of Action (JCPoA) earlier this year and started re-imposing sanctions on Iran in August, Iran has brought this case against the United States. A decision by the court could be decisive in a polarizing world, where the United States is drifting apart from old alliances at the fastest pace ever.
Except the United States, all other parties (Russia, China, Germany, France, United Kingdom, and Iran) remains committed to the agreement and jointly condemned the decision by the United States to exit and re-imposition of sanctions, part of which went into effect beginning August targeting Iran’s access to USD and global financial sector and the rest would go live by November, specifically targeting Iran oil and banking sectors. So, a decision by the court against the United States would be a major victory not only for Iran but the rest of the parties involved.
At the court, Iran is arguing that the United States violated the terms of Joint Comprehensive Plan of Action (JCPoA) despite regulatory body’s assurance that Iran is abiding by the rules of the agreement and violated the terms of the Treaty of Amity 1955, which had the approval of then-president Dwight D. Eisenhower and the Shah of Iran and the treaty came into force in 1957. To see more details on the treaty, https://www.state.gov/documents/organization/275251.pdf
The public hearing on the case has begun on Monday and will continue till Thursday. Here to check for the latest updates at ICJ, https://www.icj-cij.org/en/case/175


Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
Best Gold Stocks to Buy Now: AABB, GOLD, GDX
FxWirePro: Daily Commodity Tracker - 21st March, 2022 



