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U.S. Department of State

2 days after cash delivery, US paid $1.3 billion to Iran

The Obama administration said Wednesday it paid $1.3 billion in interest to Iran in January to resolve a decades-old dispute over an undelivered military sale, two days after allowing $400 million in cash to fly to Tehran.

State Department spokeswoman Elizabeth Trudeau says the U.S. couldn't say more about the Jan. 19 payments because of diplomatic sensitivities. They involved 13 separate payments of $99,999,999.99 and final payment of about $10 million. There was no explanation for the Treasury Department keeping the individual transactions under $100 million.

The money settles a dispute over a $400 million payment made in the 1970s by the U.S.-backed shah's government...

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