Tehran, YJC. Iran is in receipt of another installation of its frozen oil revenues which was arranged under an interim nuclear deal with the P5+1 group.
The interim deal allows the partial release of the frozen Iranian assets.
The Iranian Central Bank on Wednesday announced that a total of $490 million
has been transferred to an Iranian account in Oman from South Korea.
According to a report by the Islamic Republic News Agency, the move came following
the latest agreement between Iran and the 5 permanent members of the UN Security
Council- the US, China, Britain, Russia, France - plus Germany, whereby to
release by July 2015another $4.9 million of Iranian assets held in foreign
banks.
Iran and the six countries called P5+1 failed to reach a final agreement on
the former’s nuclear program by a self-imposed November 24 deadline despite progress
politicians from the involved parties claimed to have made.
However, the 2 sides consented to an extension to their discussions for 7
more months until July 1, 2015. The parties also agreed that the interim deal
they had signed in Geneva in November 2013 remain in place during the
negotiations extension.
Under the interim agreement, Tehran received billions of dollars of its
frozen oil income in several installments and in return is required to limit certain
aspects of its nuclear program.