BANKING & FINANCE

Iran to get $32 bln of unfrozen assets after sanctions end

Unfreezing of assets comes after the U.N. atomic watchdog confirmed at the weekend that Iran had complied with measures imposed by the deal with global powers. (File photo: AP)

Iran will receive $32 billion of unfrozen assets after sanctions were lifted in a deal with world powers over its nuclear programme, Iranian central bank chief Valiollah Seif said Tuesday.

Seif was quoted by state television as saying that $28 billion (25.8 billion euros) would go to the central bank and $4 billion “will be transferred to the state treasury as the share of the government”.

The unfreezing of assets comes after the U.N. atomic watchdog confirmed at the weekend that Iran had complied with measures imposed by the deal with global powers reached in Vienna in July.

The assets can be used “to buy and import goods, as the entry of such an amount of currency in to the country is not logical,” Seif said.

The central bank plans to keep the funds “in centralized and safe accounts” abroad, he added.

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Last Update: Tuesday, 19 January 2016 KSA 11:55 - GMT 08:55
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Iran to get $32 bln of unfrozen assets after sanctions end
Iran’s central bank plans to keep the funds ‘in centralized and safe accounts’ abroad
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