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Weapons of Mass Destruction (WMD)

IRNA - Islamic Republic News Agency

$7b of Iran's frozen funds to be released via bank transactions

IRNA - Islamic Republic News Agency

Apr 7, 2022

Tehran, IRNA -- Seven billion dollars of Iran's frozen funds abroad will be released via banking transactions into Iran's accounts.

Iran has reached agreements with some countries on the framework of unfreezing a considerable part of its frozen funds.

The blocked funds should be received in Iran's bank accounts within a specific timeframe of few weeks, according to the agreement.

The framework resembles the one agreed upon with the UK that led to the transfer of 470 million euros to Iran's bank accounts.

The funds to be released under the recent agreements amount to seven billion dollars.

This could be a sign of gradual mitigation of banking restrictions against Iran in a way that was unprecedented even after the nuclear deal was signed.

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