Iran to receive $1.7 billion in US claim settlement

WASHINGTON: The United States and Iran on Sunday settled a longstanding claim at the Hague, releasing to Tehran $400 million in funds frozen since 1981 plus $1.3 billion in interest, the State Department said.

The funds were part of a trust fund once used by Iran to purchase military equipment from the United States but which was tied up for decades in litigation at the Iran-US Claims Tribunal. The settlement announcement was made after Tehran released five American detainees in a prisoner swap as a nuclear deal was implemented.

Reuters

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