The Iran-United States Claims Tribunal (IUSCT) came into existence as one of the measures taken to resolve the crisis in relations between the Islamic Republic of Iran and the United States of America arising out of the November 1979 hostage crisis at the United States Embassy in Tehran, and the subsequent freezing of Iranian assets by the United States of America.

The Government of the Democratic and Popular Republic of Algeria served as intermediary in the search for a mutually acceptable solution. Having consulted extensively with the two Governments as to the commitments each was willing to undertake in order to resolve the crisis, the Government of Algeria recorded those commitments in two Declarations made on 19 January 1981. The “General Declaration” and the “Claims Settlement Declaration”, collectively “Algiers Declarations”, were then adhered to by Iran and the United States.