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U.S. Payment of $1.7 Billion to Iran Made Entirely in Cash

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"This cash bonanza has emboldened Iran's radical regime, and undermined America's national security."

WASHINGTON (AP) — The Obama administration is acknowledging its transfer of $1.7 billion to Iran earlier this year was made entirely in cash, using non-U.S. currency, as Republican critics of the transaction continued to denounce the payments.

Treasury Department spokeswoman Dawn Selak said in a statement late Tuesday that the cash payments were necessary because of the "effectiveness of U.S. and international sanctions," which isolated Iran from the international finance system.

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