Iran had dragged Washington before the International Court of Justice in June 2016 to oppose a US Supreme Court ruling that the $2 billion should go to victims of terror attacks blamed on the Islamic republic.
Monday´s hearing of US objections against Iran´s appeal comes a week after the ICJ in a separate case ordered the United States to ease sanctions reimposed after President Donald Trump pulled out of the 2015 nuclear deal with Iran.
Both the assets and the sanctions cases are based on a 1955 "Treaty of Amity" between Washington and Tehran that predates Iran´s Islamic revolution.
Last Wednesday the Trump administration announced it was not only tearing up the 1955 treaty but also that it was quitting the international accord relating to the UN top court´s jurisdiction.
It remained unclear how Washington will respond to the latest case before the court but US officials confirmed that its lawyers will be present at the hearing on Monday.
The ICJ was set up after World War II to rule on disputes between United Nations member states. Its rulings are binding but it has no power to enforce them.
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