Central Bank of Iran Chief: $32 Billion in Frozen Assets Will Be Released

Valiollah Seif, the Governor of the Central Bank of Iran, stated that after the lifting of sanctions, "$32 billion in frozen assets will be released, of which $28 billion belongs to the Central Bank." According to a report on Monday, January 18, by Young Journalists Club, Mr. Seif added that the usage of these funds will be prioritized based on economic directions that include support for investment. Earlier this summer, a member of the Program, Budget, and Calculations Commission of the Islamic Consultative Assembly reported that the Central Bank Governor had informed President Hassan Rouhani in a letter that the amount of the Islamic Republic's frozen assets abroad was estimated to be "around $26 billion." Ezzatollah Youssefian Mola also told Fars News Agency that although "the total amount of Iran's money abroad is $107 billion," only "$26 billion of that is available for deposit into the treasury." In recent years, billions of dollars of Iran's revenue, primarily from oil exports, have been frozen in various countries. With the implementation of the nuclear agreement between Iran and world powers, these funds are expected to be returned to the Islamic Republic.