Iran to receive 2nd installment of frozen assets

Tehran, March 5, IRNA – Iran will receive the second installment of its frozen assets abroad within the next two days, Head of Central Bank of Iran Valiollah Seif said on Wednesday.

Speaking to reporters after a cabinet meeting, he said “The first installment of the 4.2 dlrs billion in Iran’s blocked oil revenues has been transferred to a designated Swiss bank account.”

Seif added that the second installment will be transferred to Iran’s account within the next two days.

Iran and the sextet - Russia, China, the US, France, Britain and Germany -- inked a nuclear accord in the Swiss city of Geneva on November 24, 2013.

The two sides have agreed to stage-by-stage implement the interim agreement since January 20.

Under the Geneva accord, the six countries agreed to lift some of the existing sanctions in exchange for Tehranˈs confidence-building measure not to develop its national nuclear program for a six-month period.

On January 12, Deputy Foreign Minister and a senior member of Iranˈs nuclear negotiating team Abbas Araqchi said 4.2 dlrs billion worth of Iranian frozen assets would be released in eight stages and Tehran, in return, would oxidize its 20 percent enriched uranium within a year.

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