On January 17, 2016, the United States of America (“U.S.”) landed a plane carrying $400 million in euros, Swiss francs, and other foreign currencies in the Iranian capital of Tehran. U.S. officials later distributed the $400 million to Iranian officials. The plane carried the first of three payments that were delivered over the next several weeks, and which would fulfill the terms of a $1.7 billion settlement resulting from negotiations carried out at the Iran-United States Claims Tribunal (“IUSCT”) in The Hague. On the same day as the cash delivery, Iran released five United States citizens from detainment in Iran.
Casey J. College, THE IRAN-UNITED STATES CLAIMS TRIBUNAL: THE EFFECT OF FUTURE AWARDS ON INTERNATIONAL TERRORISM, 9 Arb. L. Rev. 305 (2017).
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