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News agency: Iran receives $500 million of its frozen assets

February 02, 2014, 10:26 UTC+3 GENEVA

The first tranche was put on an account in a Swiss bank

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© AP Photo/Vahid Salemi

GENEVA, February 02, (ITAR-TASS). Iran has received a first tranche of 500 million dollars from its assets frozen by the West, Iran’s Deputy Foreign Minister Abbas Araqchi said in an interview with the IRNA agency.

“The first tranche of 500 million dollars was put on an account in a Swiss bank; everything has been done in compliance with the agreement,” he said.

Iran and the Sextet /five permanent members of the UN Security Council plus Germany/ signed an agreement on unfreeze assets on November 24, 2013 in Geneva. Under the document, Iran will be paid back gradually 4.2 billion dollars, which were frozen in its accounts in Western banks. The agreement came into force on January 20 of the current year. The Islamic Republic agreed to enrich uranium over five percent. The Sextet, in its turn, promised no further sanctions from the UN, EU or US and also to lift certain limitations in several spheres.

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