The iran united states claims tribunal was established on 19 january 1981 by the islamic republic of iran and the united states of america to resolve certain claims by nationals of one state party against the other state party and certain claims between the state parties. Almost all of the approximately 4700 private us claims filed against the government of iran at the tribunal have been resolved and have resulted in more than 25 billion in awards to us nationals and companies the period for filing new private claims against iran expired on january 19 1982. The state department announced yesterday that the united states and iran had agreed to settle one of the largest remaining claims outstanding at the iran us claims tribunal in the hague and that in doing so the united states had agreed to pay iran roughly 17 billion consisting of 400 million of iranian money placed in a trust fund to buy us. The iran united states claims tribunal came into existence as one of the measures taken to resolve the crisis in relations between the islamic republic of iran and the united states of america arising out of the november 1979 hostage crisis at the united states embassy in tehran and the subsequent freezing of iranian assets by the united states of america. The iran united states claims tribunal iusct is an international arbitral tribunal established pursuant to the algiers declarations of 19 january 1981 also known as algiers accords an agreement between the united states and iran mediated by algeria to resolve the hostage crisis in exchange for the release of the hostages seized by
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