$7bn Iranian frozen assets to be released

Accordingly, necessary framework for removing blockade of a significant part of the frozen foreign exchange resources of the country has been identified and agreed upon.

Under this agreement, blocked funds must be collected in Iranian accounts in a specified period of time within a few weeks.

The framework of this channel to remove blockade of foreign exchange resources of the country is similar to the framework agreed with Britain, in which, a figure of about 470 million euros was deposited in the accounts of Iran.

The amount of foreign exchange resources that will be released with the implementation of the recent agreement is estimated at $7 billion.

The $7 billion will be deposited into the Iran's accounts, indicating the gradual opening of banking restrictions against Iran in a way that such a money transfer has been unprecedented even after Joint Comprehensive Plan of Action (JCPOA).

MA/IRN84708232