Azerbaijan to free Iran's frozen assets

TEHRAN, Aug. 07 (MNA) – Head of the Secretariat of Iran-Azerbaijan Joint Trade and Economic Cooperation Commission Mehdi Mohtashami said that 120 million dollars of Iran's blocked assets in Azerbaijan will be released.

"In a meeting with Azeri delegation in Tehran, the two countries agreed to release part of 500 million dollars of Iran to be entered into mutual trade," Mohtashami said in a meeting with traders of Ardebil Province.

Iran has asked the government and the Central Bank of Azerbaijan (CBA) to return the assets of Iranian entities remaining stagnant in Azerbaijan on the accounts of Azerbaijan.

Gas swap to Nakhchivan, especially in the seasons of production increase and developing secondary deposits in Azerbaijan, establishment of joint bank and increasing Iran's Melli Bank activities, joint investment and insurance and guaranteeing capital were among issues discussed between the two countries.


News Code 109065


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