Diplomacy: Opening Gambit

Claims arbitration begins

The yellow ribbons have long since disappeared. Most of the 52 former American hostages have picked up their careers and moved ahead with their lives. But the complex deal that won their release four months ago will probably keep lawyers, bankers and diplomats busy for years to come. Last week U.S. and Iranian negotiating teams met in the velvet-lined boardroom of the Palace of Peace in The Hague to; begin carrying out the most controversial feature of that agreement: arbitration of their respective corporate and private financial claims.

Under the terms of the deal, President Carter barred American...

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