Iran receives USD 490 mn of frozen assets

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SME Times News Bureau | 01 Apr, 2015
The Central Bank of Iran announced Tuesday that it has received USD 490 mn of its frozen assets based on an interim deal Tehran signed with the world powers over its nuclear programme last November, a media report said.

The central bank received the latest instalment of its frozen overseas assets in its accounts in Oman. It was the fifth instalment of a total of USD 4.9 billion which had been agreed to be delivered to Iran in 10 payments, Press TV reported citing a statement from the bank.

Iran has so far received around USD 7 billion of its frozen assets in two phases.

In November 2013, Iran and the P5+1 group -- Russia, China, France, Britain, the US plus Germany -- clinched an interim nuclear deal for a period of six month.

According to the deal, Iran agreed to limit certain aspects of its nuclear activities as a confidence-building measure, and the world powers undertook to provide Iran with some relief on sanctions.

The negotiators of Iran and the world powers are now working on a final accord by the end of June 2015.