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2 days after cash delivery, US paid USD 1.3 billion to Iran

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AP Washington
The US says it paid USD 1.3 billion to Iran in January from a little-known fund for resolving international disputes, two days after allowing a planeload of cash to fly to Tehran.

State Department spokeswoman Elizabeth Trudeau says the US can't say more about the January 19 payments because of diplomatic sensitivities. They involved 13 separate payments of USD 99,999,999.99 and a final payment of about USD 10 million.

The money settles a 1970s payment by Iran for US military equipment that was never delivered upon because of the 1979 revolution.

On January 17, the administration paid the account's USD 400 million principal in pallets of cash.
 

The deal has faced scrutiny since the administration acknowledged using the money as leverage to ensure the release of four American prisoners. Republicans call it "ransom.

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First Published: Aug 24 2016 | 10:28 PM IST

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