Mobile  |  About us  |  Photos  |  Videos  |  Subscriptions  |  RSS Feeds  |  Today's Paper  |  Classifieds  |  Contact Us
The Daily Star
THURSDAY, 24 APR 2014
12:01 AM Beirut time
Weather    
Beirut
22 °C
Blom Index
BLOM
1,214.01down
Middle East
Follow this story Print RSS Feed ePaper share this
Iran gets first tranche of assets under sanctions relief
Reuters
A+ A-

DUBAI: A first tranche of $550 million in sanctions relief agreed under an interim nuclear deal has been paid into an Iranian Central Bank account in Switzerland, the official IRNA news agency said Monday.

Quoting an informed source, the agency reported: “$550 million in frozen Iranian assets [were] transferred to Iran’s Central Bank account in Switzerland.

The agency said the money was a first installment of $4.2 billion in blocked Iranian oil revenue that is to be made available to Iran under the Nov. 24 deal.

That agreement is designed to curtail Iran’s nuclear activities for a six-month period beginning on Jan. 20 in exchange for sanctions relief from six major powers: Britain, China, France, Germany, Russia and the United States.

Under the accord, Iran agreed to curb its most proliferation-sensitive nuclear activity – higher-level uranium enrichment – in return for some relief from Western sanctions.

The agreement aims to give the two sides six months to reach a comprehensive deal to address all questions about whether Iran seeks nuclear arms.

Iran says its program is for solely peaceful purposes such as generating electricity and medical isotopes.

Among the total sanctions relief over the six months, $4.2 billion is in the form of access to currently blocked Iranian revenues that are held abroad.

In January a U.S. official said access to some of those funds depended on Iran keeping its commitment to dilute half of its 20 percent enriched uranium to no more than 5 percent enriched uranium.

 
A version of this article appeared in the print edition of The Daily Star on February 04, 2014, on page 6.
Home Middle East
 
     
 
Iran
Advertisement
Comments  

Your feedback is important to us!

We invite all our readers to share with us their views and comments about this article.

Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.

comments powered by Disqus
Story Summary
A first tranche of $550 million in sanctions relief agreed under an interim nuclear deal has been paid into an Iranian Central Bank account in Switzerland, the official IRNA news agency said Monday.

The agency said the money was a first installment of $4.2 billion in blocked Iranian oil revenue that is to be made available to Iran under the Nov. 24 deal.
Related Articles
 
 
Zarif: 50-60 pct agreement on Iranian nuclear deal
 
 
Iran cuts sensitive nuclear stockpile, key plant delayed: IAEA
 
 
Iran: '50 to 60 percent agreement' on nuke deal
 
 
Iran expects next payment under nuclear agreement
 
 
US official:Iran nuclear deal to be drafted in May
Show More
Entities
Advertisement


Baabda 2014
Advertisement
Follow us on Facebook Follow us on Twitter Follow us on Linked In Follow us on Google+ Subscribe to our Live Feed
Multimedia
Images  
Pictures of the day
A selection of images from around the world- Wednesday, April 23, 2014
View all view all
Advertisement
Rami G. Khouri
Rami G. Khouri
Israel shows Zionism’s true colors
Michael Young
Michael Young
Why confuse gibberish with knowledge?
David Ignatius
David Ignatius
Echoes of 1914 characterize the Ukraine crisis
View all view all
Advertisement
cartoon
 
Click to View Articles
 
 
News
Business
Opinion
Sports
Culture
Technology
Entertainment
Privacy Policy | Anti-Spamming Policy | Disclaimer | Copyright Notice
© 2014 The Daily Star - All Rights Reserved - Designed and Developed By IDS