The Center for International Legal Affairs of the Legal Vice Presidency of the Iranian President said in a statement that the amount was deposited into the country’s bank account in The Hague, the Netherlands, media reports said.

The case involves Iranian properties that had not been transferred to Iran after the conclusion of the Algiers Declarations.

“The Iran-United States Claims Tribunal issued Award No. 604 in favor of Iran and ruled that the US government must compensate for the damage it caused to the government of the Islamic Republic of Iran,” read the statement.

It added that following repeated and persistent follow-ups by the Center for International Legal Affairs of the Legal Vice Presidency of the Iranian President to secure Iran’s rights based on the verdict, the amount of $43 million has been deposited by the US government into the account of the Islamic Republic of Iran at a Dutch bank in The Hague in damages and its interest.

The development came as the US has faced successive legal defeats against the Islamic Republic through international legal channels.