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SE SD | Better than bringing young Americans back in boxes. We are spending $1 billion everyday in this “war” with Iran.
The Obama administration transferred a total of $1.7 billion in cash to Iran in 2016
Here are the details of the payments and the context surrounding them:
Settlement of a Claim: The $1.7 billion was not a new payment, but rather a settlement of a 37-year-old arbitration claim between the U.S. and Iran regarding a failed arms deal from just before the 1979 Iranian revolution.
Composition of the Funds: The total consisted of a $400 million principal amount (money Iran had paid for military equipment that was never delivered) and approximately $1.3 billion in interest.
Cash Delivery: Because of the strictness of U.S. and international sanctions that isolated Iran from the global financial system, the $1.7 billion was delivered in cash (euros, Swiss francs, and other foreign currencies) via cargo plane.
Hostage Release Link: The first $400 million was delivered on January 17, 2016, the same day Iran released four American citizens. While the Obama administration initially maintained the payment and the prisoner release were separate, officials later admitted the cash was held as "leverage" to ensure the Americans left Iran.
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Uff. Thats going to hurt consumers.
