Iran to be allowed access to $2.8bn of its frozen assets

Iranian Foreign Minister Mohammad Javad Zarif attends a news conference in Vienna July 18, 2014. (Reuters)

Iran will be allowed to access an additional $2.8 billion of its frozen assets during a 4-month period of extended talks with six powers on its nuclear program but most sanctions against Tehran will remain in place, the United States said on Saturday.

“We will continue to suspend the sanctions we agreed to under the (preliminary agreement from November 2013) and will allow Iran access to $2.8 billion dollars of its restricted assets,” U.S. Secretary of State John Kerry said after Iran and six powers agreed to extend nuclear talks by four months after they failed to reach a July 20 deadline for a deal.

“Let me be clear,” Kerry said in a statement. “Iran will not get any more money during these four months than it did during the last six months, and the vast majority of its frozen oil revenues will remain inaccessible. ... We will continue to vigorously enforce the sanctions that remain in place.”

Last Update: Wednesday, 20 May 2020 KSA 09:43 - GMT 06:43