Jan 28, 2014, 2:42 PM

Iran to receive $ 4.2b blocked money by mid March

TEHRAN, Jan. 28 (MNA) – The deputy-FM for International Affairs has said banks in South Korea, Switzerland, and Japan would transact the money.

Abbas Araghchi, who was speaking in the meeting of Tehran Chamber of Commerce representatives today morning, told that according to Geneva deal, banks in Japan, South Korea, and Switzerland would carry out the transactions in a safe manner. “The transactions necessary for importing goods (food, pharmaceuticals, and medical facilities) would be carried out without any risk, to which our Central Bank should do necessary cooperation as well,” he added.

“In addition, the equivalent of $ 4.2b in dollars of Iran’s oil revenues blocked by sanctions in foreign banks will be directly released in cash to Central Bank by 8 countries in 6 installments of $ 550m and two installments of $ 450m, with the first step being in early February,” Araghchi detailed.

“Iran will receive $ 1.55b (two installments of $550m and an installment of $ 450m) by mid March,” he added.

SH/ZK
MNA
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News ID 101828