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Originally Posted by Mick
Then why didn’t the Labour Party pay it, Tories was not in power?
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Because they already had prepared to do it but couldn't complete the transfer I think? This story is from April 2010, shortly before the election
https://www.independent.co.uk/news/u...m-1952972.html
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The Independent can reveal that Britain is to pay back nearly £400m to Iran’s defence ministry after finally admitting defeat in the dispute in a move that will be heralded by Tehran as a major diplomatic triumph while it continues its international brinkmanship with the West over its nuclear ambitions.
Financial restrictions imposed by the European Union on Iranian banks, which freeze any of Tehran’s assets held abroad, mean that Iran will not be able to access the funds. They will instead be held in a trust account overseen by independent trustees. The money will join £976m of Iranian assets already frozen in Britain.
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The MoD insisted that the pay out will not come from its own stretched budget. In anticipation of a defeat as far back as 2002, Britain paid nearly £486m into the High Court to meet the cost of any settlement.
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