First Tranche of Iran’s Blocked Assets Unfrozen: Deputy FM

First Tranche of Iran’s Blocked Assets Unfrozen: Deputy FM

TEHRAN (Tasnim) – An Iranian deputy foreign minister announced that the first installment of the country’s blocked assets, which are being returned to Tehran under a four-month extension of nuclear negotiations with world powers, has been unfrozen.

Seyed Abbas Araqchi, who is also a senior member of the Iranian team of nuclear negotiators, said on Saturday that the $500-million tranche has been released and will be transferred to the country.

The payment is the first of the $2.8 billion frozen oil revenues that Iran will receive during four months.
Tehran and the sextet of world powers (Russia, China, the US, Britain, France and Germany) on July 18 agreed to a four-month extension of negotiations on a long-term nuclear deal, which was expected to be struck by a July 20 deadline.

“The necessary coordination between the two sides is underway to deposit that money to the Islamic Republic of Iran Central Bank’s account,” Araqchi said.

Iran is expected to receive the sum of $2.8 billion in five more installments, set to be paid on August 25, September 17, October 10, November 3, and November 23.

Iran and the world powers will resume their negotiations in September in the hope of clinching a final deal to resolve the decade-long standoff on Tehran’s nuclear energy program.

Back 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.

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