You are here:  Top Stories  >  Economy  >  Current Article

Iran to receive $4.2b of blocked money by mid-March

Wednesday, 29 January 2014

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.



    Print       Email
  • Published: 2 years ago on Wednesday, 29 January 2014
  • By: Iran Daily Brief
  • Last Modified: January 29, 2014 @ 2:47 pm
  • Filed Under: Economy
  • Tagged with:
  • Source(s):
    • http://www.entekhab.ir/fa/news/146672; http://banki.ir/akhbar/1-news/19039-%DA%A9%D8%AF%D8%A7%D9%85-%D8%A8%D8%A7%D9%86%DA%A9%D9%87%D8%A7-%D9%BE%D9%88%D9%84-%D8%A8%D9%84%D9%88%DA%A9%D9%87-%D8%A7%DB%8C%D8%B1%D8%A7%D9%86-%D8%B1%D8%A7-%D8%A7%D9%86%D8%AA%D9%82%D8%A7%D9%84-%D9%85%DB%8C-%D8%AF%D9%87%D9%86%D8%AF%D8%9F

You might also like...

First VP: nuclear agreement has weakened the architecture of the sanctions

Read More →