$490 Million More of Iran's Frozen Assets Deposited

With the deposit of the fifth installment from the third round of the release of Iran's frozen assets, a total of $2.45 billion from the third phase of agreements has been made available to the Central Bank of the Islamic Republic. According to the official website of the Central Bank of Iran on Tuesday, April 11, the amount of $490 million was deposited into this bank's account in Oman from the Central Bank's resources in Japan, based on the agreement between Iran and the 1+5 group. The total amount of this round of agreements is $4.9 billion, which will be deposited in ten installments of $490 million each. Previously, according to agreements between Iran and the 1+5 group, Iran's frozen assets from oil revenues were released in two phases, totaling $7 billion. The details of the release of Iran's blocked assets were such that, based on a six-month nuclear agreement between Iran and six world powers, which was reached on November 24, 2013, and implemented from January 20, 2014, Iran gained access to $4.2 billion of its frozen assets abroad. After the six months ended, the parties agreed to extend this agreement for another four months, during which an additional $2.8 billion was made available to Iran, bringing the total to $7 billion. This agreement was again extended for seven months on November 24 last year, during which $4.9 billion of Iran's frozen assets is to be gradually delivered to Iran. It is said that Iran's frozen assets abroad are about $100 billion. Iran and the six world powers are currently negotiating a political framework, and despite some progress acknowledged by the parties, a comprehensive conclusion has not yet been reached. Meanwhile, April 11 is the deadline set by the parties to reach a political agreement. Iran and the six world powers are also working towards a comprehensive nuclear agreement by the end of June.