: International Court of Justice (ICJ) is the principal judicial organ of the United Nations. The UN and the ICJ were both established in 1945 at the San Francisco Conference. The seat of the ICJ is located in The Hague. Its scope covers the adjudication of disputes between states and the provision of advisory opinions on questions of international law. The case before the International Court of Justice concerns a jurisdictional dispute arising under the 1955 Economic Relations and Consular Rights between Iran and the United States(Treaty of Amity).

The proceedings focus on whether the Court has jurisdiction ratione materiae to examine Iran’s claims based on Articles III, IV, and V of the Treaty which extend protection only to nationals and companies. The main dispute is the legal characterization of Bank Markazi and whether its investment activities in the United States financial market by the purchase and management of security entitlements in dematerialized bonds bring it within the description of a company under the Treaty.