The United States and Iran settled at the Hague Tribunal Tehran�s long-standing claim for $400 million frozen since a 1979 break in formal diplomatic ties between the countries, US Secretary of State John Kerry said in a statement on Sunday.

WASHINGTON (Sputnik)�� The funds were used by�Tehran to�purchase military equipment from�the United States prior to�the break in�diplomatic relations.
"Iran will receive the balance of $400 million in�the Trust Fund, as�well as�a roughly $1.3 billion compromise on�the interest," the statement reads.


According to�Kerry, US nationals and companies were awarded over $2.5 billion by�Iran through�the similar legal process.

The settlement follows Washington's lifting of�sanctions targeting Iran over�its nuclear program after�global nuclear watchdog IAEA verified on�Saturday Tehran�s compliance with�a nuclear agreement reached last July.
By Sputnik