Special to WorldTribune.com

Despite the lifting of sanctions, up to $150 billion of frozen Iranian funds should continue to be held by U.S. banks for victims of Iran-sponsored terrorism, an Israeli legal rights NGO said.

The Shurat HaDin – Israel Law Center sent letters warning 11 U.S. branches of foreign banks that the $100-150 billion in frozen oil revenue should continue to be held despite the Obama administration’s plan to lift sanctions on the accounts in the wake of the nuclear deal between Teheran and world powers.

“You are hereby warned that all accounts maintained by your financial institution at any of its branches in the name of Iran, the Central Bank of Iran, the Naftiran Intertrade Company, the National Iranian Oil Company, the National Iranian Tanker Company or any other agency or instrumentality of Iran are restrained and subject to a lien in favor of my clients under United States law,” the letters state.

Teheran had negotiated with the Obama administration to lift sanctions on the bank accounts, but Iran’s move to recoup the money was blocked in October by a “Citation to Discover Assets” that was filed in the federal district court for the Northern District of Illinois.

  Frozen Iranian funds must be held in reserve for terror victims, NGO warns U.S. banks, Shurat HaDin – Israel Law Center, WorldTribune.com