What was universally known as the
Iran hostage crisis went on for
more than a year,and finally ended with a bargain: In exchange for the release of 52 American diplomats and citizens, both sides agreed to resolve the question of money through international arbitration. The
Iran-United States Claims Tribunal has trudged along for almost four decades now, and the money has flowed both ways. By 1983, Iran had returned $896 million to U.S. banks, which in turn had returned hundreds of millions in frozen funds to Iran. Today, private claims from the U.S. side
have been resolved to the tune of $2.1 billion.
But still at issue as Obama began his second term was $400 million that Iran in the late 1970s had paid for U.S. fighter jets, while Tehran was still a U.S. ally. After it turned into an enemy in 1979, Washington was not about to deliver the jets. But, all these years later, Iran wanted its money back—and with interest.
http://time.com/4441046/400-million-iran-hostage-history/
