IRAN: Under Nuclear Deal $100 BILLION In Assets ‘Fully Released’

IRAN: Under Nuclear Deal $100 BILLION In Assets ‘Fully Released’

On Monday, Iran said that it now has access to more than $100 BILLION worth of frozen overseas assets following the implementation of a landmark nuclear deal with world powers.

AP483602316661

Iranian Foreign Minister Mohammad Javad Zarif

TEHRAN, Iran (AP) Government spokesman Mohammad Bagher Nobakht said much of the money had been piling up in banks in China, India, Japan, South Korea and Turkey since international sanctions were tightened in 2012 over Tehran’s nuclear program.

Iran’s semi-official ISNA news agency meanwhile quoted central bank official Nasser Hakimi as saying nine Iranian banks are now reconnected to SWIFT, a Belgian-based cooperative that handles wire transfers between financial institutions. No foreign banks operate in Iran, and ATMs in Iran are not yet linked to the global system.

The historic agreement brought about the lifting of international sanctions last month after the U.N. certified that Iran has met all its commitments to curbing its nuclear activities under last summer’s accord.

“These assets ($100 billion) have fully been released and we can use them,” Nobakht said in comments posted on the website of state-run Press TV. He said much of the money belongs to Iran’s central bank and National Development Fund. He said Iran will not bring all the money back because it can be spent on purchasing goods.

Iran expects an economic breakthrough after the lifting of sanctions, which will allow it to access overseas assets and sell crude oil more freely.

Mohsen Jalalpour, the head of Iran’s Chamber of Commerce, said on state TV Monday that Iranian businessmen are already able to open letters of credit for transactions in other countries.

we.will.know.if.you.cheat

HT WND

Read the full story>

Total paragraphs: 7
Total paragraphs for ads: 7
Ad locations: , , , , ,

 

Join the conversation!

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.