A spokesperson for Switzerland’s State Secretariat for Economic Affairs said on Sunday that $11.8 million have been unfrozen, Swissinfo.ch reported.
The money had been stopped from leaving Switzerland after being frozen between 2007 and 2012 as part of anti-Iran sanctions.
It belonged to either individuals, companies or government-owned institutions.
The move came a week after the Joint Comprehensive Plan of Action (JCPOA), a lasting nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany), came into force.
Based on the nuclear deal, reached in July 2015, all nuclear-related anti-Iran sanctions have been removed.