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About Iran-United States Claims Tribunal

The Iran–United States Claims Tribunal (IUSCT) is an international arbitral tribunal established by the Algiers Accords, an international agreement between the U.S. and Iran embodied in two Declarations by the Government of the People's Democratic Republic of Algeria issued on 19 January 1981, to resolve the crisis in relations between the two countries arising out of incidents in U.S. embassy in Tehran.[1][2] Affected by United States’ role in 1953 coup d'état which resulted in overthrown of the first-ever democratically elected government of Mohammad Mossadegh, Iranian society hoped a change of behavior in U.S. and demanded return of dethroned Shah and the Iranian assets he had taken with him while fleeing Iran after the 1979 Revolution, all of which the U.S. refrained to do. After multiple gatherings outside the U.S. embassy, on 4 November 1979, a group of university students climbed the walls of the building, seized the premises, and arrested 52 embassy employees working there. They demanded the return of Shah for releasing the staff. In response to events in its embassy, the U.S. froze billions of dollars Iran’s money, imposed sanctions on transactions with Iran, and authorized judicial confiscation of Iranian assets in U.S. soil. To settle the dispute, senior Algerian officials brokered rounds of negotiations, calling for the release of the Americans and termination of U.S.’s countermeasures. Negotiations between parties wrapped up as two Declarations were issued, part of which established an arbitral tribunal for the settlement of property and contract claims of Iran and United States against each other. The new tribunal is located in The Hague, Netherlands and has been called “the most significant arbitral body in history”. Its decisions are considered binding for both sides

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