Iran to Get $32.6Bln of Formerly Frozen Assets After Sanctions Relief

Iranian financial institutions are expected to receive $32.6 billion of previously frozen assets as the international sanctions were lifted, the head of the country’s Central Bank said Tuesday.

US Secretary of State John Kerry, left, meets with Iranian Foreign Minister Mohammad Javad Zarif, right, in Vienna, Austria, Saturday, Jan. 16, 2016, on what is expected to be implementation day, the day the International Atomic Energy Agency (IAEA) verifies that Iran has met all conditions under the nuclear deal. - Sputnik International
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MOSCOW (Sputnik) Most of the assets, $28.1 billion, belong to the Central Bank, whereas the remaining part, $4.5 billion, "will be transferred to the state treasury as the share of the government," Valiollah Seif was quoted as saying in a statement on the bank’s website.

"During the sanctions’ period, we faced with difficult conditions, over $30 billion from our sources of finance were made inaccessible," Seif stressed.

SWIFT international payment system will be available to all Iranian banks within 10 days, the bank’s chief added.

The unfreezing of assets followed last weekend’s confirmation by the UN nuclear watchdog that the Islamic republic had met the commitments under the deal with the world’s major powers reached in Vienna in July 2015.

The International Atomic Energy Agency's positive assessment of Tehran's compliance with the terms of the Joint Comprehensive Plan of Action (JCPOA) led to the immediate lifting of UN and EU sanctions, as well as partial sanctions relief by the United States.

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