Iran Gets Last Tranche of Frozen Assets under Geneva Deal
TEHRAN (Tasnim) – Iran has received the 8th and last installment of its blocked assets under the Joint Plan of Action, an interim nuclear deal it signed with world powers in Geneva, an official announced.
Amounting to $550 million, the payment was transferred to the Islamic Republic of Iran Central Bank’s account in the United Arab Emirates by India, a senior official with the Central Bank told the Tasnim News Agency on Saturday.
With the final tranche paid to Iran, the country recovered a total of $4.2 billion in its oil revenues frozen by the foreign countries.
According to Iranian bank officials, the sum of money has been allocated for the essential imports.
On November 24, 2013, Iran and the Group 5+1 (the five permanent UN Security Council members plus Germany) signed a six-month deal on Tehran’s nuclear program in Geneva after several rounds of tight negotiations.
Based on the interim deal, $4.2 billion in oil revenues were allowed to be transferred to Iran.
Later on July 18, after more than two weeks of intensive diplomatic negotiations in the Austrian capital of Vienna, the two sides agreed to continue talks on Tehran’s nuclear program for another four months in an effort to achieve a permanent deal.
Under the July agreement, a total of $2.8 billion will be paid to Iran in six parts -four $500-million and two $400-million installments, in three-week intervals.