China won’t return Iran’s oil money even after a deal: Former top banker

Tahmasb Mazaheri

Under a deal the Ahmadinejad government signed with the Chinese, the Chinese have been entrusted with holding Iran’s assets.

Iran’s oil money in China does not fall into the category of frozen assets; it is even worse and China won’t release it even after the finalization of a nuclear deal, the former governor of the Central Bank of Iran has said.

The following is the translation of a report Donyay-e Eghtesad daily ran on the comments of the former top banker on July 20:

Tahmasb Mazaheri said that the Central Bank is the only authority who know how much in Iranian assets has been frozen overseas. “Any figure released by any other institution is mere speculation. My guess would be as good as anyone else’s. I believe the frozen assets are somewhere between 20-25 billion dollars.”

Mazaheri, who also served as the minister of economy and financial affairs, further said under a deal the previous government signed with the Chinese, the Chinese have been entrusted with holding Iran’s assets.

He went on to say that the West has frozen our assets and will release them once a deal is finalized. “But the Chinese won’t return the Iranian money even after a deal has been struck. Instead, their middlemen will sell us inferior products at a premium on commission.”

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