Iran receives $490M of frozen assets

The fifth installment of Iran ’s frozen assets worth $490 million has been settled.

This makes a total sum of $2.45 billion released during the agreements between Iran and the P5+1 group (the US, UK, France, Russia, China, and Germany).

The Islamic Republic and P5+1 are negotiating to find a way to reach a comprehensive accord to put an end to the decade-old nuclear dispute.

The sum had been frozen in Japan and was transferred to Iranian Central Bank's account in Oman, the official website of the bank said on March 31.

The total sum to be paid as agreed in this round of agreements is $4.9 million, for which 10 installments have been designated.

Earlier, based on Iran-P5+1 agreements, Iran ’s frozen oil revenues had been settled in two stages of 4.2 billion and 2.8 billion dollars.

There is no concrete figure for the amount of Iran's frozen assets abroad. Head of the parliament Research Center Kazem Jalali said in August 2013 that foreign banks had blocked some $60 billion worth of Iranian assets. In turn, the US administration said that Iran 's frozen assets are estimated to be $100 billion.

Source: trend.az