WORLD : U.S., Iran Settle ‘Small Claims’
The United States and Iran have signed a $105-million settlement of about 3,000 financial claims, bringing the two countries one step closer to re-establishing economic relations, a U.S. official said today.
The settlement deals primarily with so-called “small claims” for under $250,000 that stem from the 1979 Islamic revolution, said the official, speaking on condition of anonymity.
It clears the way for the Iran-United States Claims Tribunal to deal with about $16 billion in major claims, whose resolution in turn could open the way to normalizing economic ties between the two nations, the official said.
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