Sunday, May 22, 2022

Iran pursuing talks on release of frozen assets

The Central Bank of Iran (CBI) has announced fresh details on the unfreezing of the country’s assets, blocked due to the US sanctions.

The announcement was made after Iranian Foreign Minister Hossein Amir Abdollahian made remarks on agreements reached about the release of Iran’s frozen assets and following a trip to Iran by a regional delegation, which, in turn, was followed by the US State Department adopting a position on the issue.

An official with the bank said a CBI representative is present in the talks on unfreezing the assets.

“Talks aimed at unfreezing Iran’s forex assets illegally blocked in other countries have been on the agenda for quite some time,” said the official.

“Accordingly, part of these frozen assets, i.e., around £390 million, which had been frozen by Britain for more than 40 years, was fully paid back to Iran,” the official said.

The same source touched upon a new agreement on releasing a considerable amount of Iran’s blocked financial resources as well as a trip to Tehran by a regional team to discuss the issue.

“Under this agreement, the general framework for releasing a sizeable amount of Iran’s frozen assets in one the countries was set, the trip to Tehran by the regional delegation was aimed at summing up details of implementing the agreement,” the official explained.

The Islamic republic has recently confirmed reports that $7 billion in Iranian assets, frozen in foreign banks due to the US sanctions, are going to be released.

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