The Fifth Installment of Iran's Assets Has Not Yet Been Deposited

The state news agency IRNA reported that despite the due date for the sixth and final installment of the second round of the Geneva agreement amounting to $400 million on Sunday, November 23, 2014, the fifth installment of this agreement has not yet been deposited into Iran's account. According to this news agency, the deadline for the payment of the fifth installment of the Geneva agreement, amounting to $500 million, ended on November 2, but this amount has not yet been deposited into the Central Bank of Iran's account. With the deposit of the fourth installment from the second round of the release of frozen assets, Iran has accessed a total of $6.1 billion of its assets in two phases. Based on the six-month nuclear agreement between Iran and six world powers, which was reached on November 24 last year and implemented from January 19, Iran received $4.2 billion of its frozen assets abroad. After the six months ended, the parties agreed to extend this agreement for another four months, and it was decided that another $2.8 billion would be made available to Iran. So far, $1.9 billion of the total $2.8 billion agreed upon by Iran and the 1+5 group has been deposited into the Central Bank of Iran. Officials of the Islamic Republic have announced that part of the released assets will be used to purchase essential goods. Ahmad Tavakoli, a conservative member of parliament, criticized the implementation of the Geneva agreement in a letter to President Hassan Rouhani on March 8, 2014, regarding what he called the 'imposition of four American companies' for foreign purchases with the released assets of Iran by the 1+5. The release of Iran's frozen assets has also faced criticism in the United States, including from Mike Rogers, chairman of the House Intelligence Committee, who criticized the Obama administration for releasing $2.8 billion of Iran's frozen assets, claiming that this money would be used to financially support Hamas. According to previous agreements, the deadline for Iran and the 1+5 countries to reach a 'comprehensive and final agreement' ends on November 24, but so far, various statements have been made by Iranian officials regarding the likelihood of reaching an agreement within this timeframe or extending the negotiations.