During a meeting with Tehran Chamber of Commerce representatives, Deputy Foreign Minister for Legal and International Affairs and senior nuclear negotiating team member Seyyed Abbas Araqchi said that according to Geneva deal, banks in Japan, South Korea, and Switzerland would carry out the transactions in a safe manner. “The transactions necessary for importing goods (food, pharmaceuticals, and medical facilities) would be carried out without any risk, something that our Central Bank (of Iran) (CBI) should necessarily cooperate as well…In addition, the equivalent of $4.2b in dollars of Iran’s oil revenues blocked by sanctions in foreign banks will be directly released in cash to the CBI by 8 countries in 6 installments of $550m and two installments of $450m, with the first step being in early February…Iran will receive $ 1.55b (two installments of $550m and one installment of $450m) by mid-March.” Eight foreign and Iranian banks not subject to international sanctions will cooperate to transfer the $4.2 billion in blocked Iranian assets, per the Joint Plan of Action. The eligible Iranian banks are: Pasargard, Parsian, Saman, Sarmayeh, Keshavarzi, Kar Afarin, Maskan and Mellat.
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