MOSCOW (Sputnik) – The UN atomic energy watchdog IAEA verified on January 16 that Iran was in compliance with the Joint Comprehensive Plan of Action (JCPOA), paving way toward the termination of UN, EU and partial US sanctions.
"These assets have fully been released and we can use them," Nobakht told the Al-Alam news network late Sunday.
The bulk of the newly released funds – held in escrow by China, India, Japan, South Korea and Turkey – is likely to be used for various purchases or investments, according to the Press TV broadcaster. It cites state officials’ cognizance of "inflationary impacts" on the economy by the "sudden flush of money."
"It is likely that a certain amount which is needed is brought in. But altogether, it is not necessary because we can use it in our [overseas bank] accounts," Nobakht was quoted as saying.
To repatriate the needed funds, CBI Governor Valiollah Seif said nine additional Iranian banks were due to reconnect to the SWIFT international payment system. The post-sanctions regime cleared 48 Iranian banks, including the CBI, to reconnect to SWIFT.
Nobakht estimated oil and condensate production at 2.25 million per day next year, with 500,000 barrels earmarked for export.