14 Jun 2024
Wednesday 31 December 2014 - 13:20
Story Code : 141715

Iran receives $490 million of blocked assets

TEHRAN (ISNA)- The Central Bank of Iran (CBI) received the first $490 million installment of the third phase of releasing its frozen assets.
Iran and the G5+1 agreed to release another $4.9 billion of Iranian blocked assets after they extended nuclear negotiations for another seven months in November.

The two sides agreed to release $700 million of Iranian assets each month in a seven-month period.

The first installment of the third phase was given to the CBI from Iranian Central bank resources in South Korea and was transferred to the bank's accounts in Oman.

Iran received $7.490 billion of its frozen assets in the first and second phase of Geneva Deal signed between Iran and G5+1.

In November 2013, Iran and the P5+1 group -- France, Britain, the US, Russia and China, plus Germany -- clinched an interim nuclear deal that took effect on January 20 and expired six months later. However, they agreed to extend their talks until November 24 as they remained divided on a number of key issues.

Missing the deadline to arrive at a comprehensive accord, the two sides decided to extend their discussions for seven more months in the search for the final deal that would end a 12-year dispute on Irans peaceful nuclear work.



The Iran Project is not responsible for the content of quoted articles.
Your Name
Your Email Address