Iran gets first tranche of $ 500 m assets under sanctions relief: IRNA

Wednesday, 5 February 2014 00:09 - - {{hitsCtrl.values.hits}}

DUBAI (Reuters): A first tranche of $ 550 million in sanctions relief agreed under an interim nuclear deal has been paid into an Iranian Central Bank account in Switzerland, the official IRNA news agency said on Monday. Quoting an informed source, the agency reported: “$ 550 million in frozen Iranian assets (were) transferred to Iran’s Central Bank account in Switzerland.” The agency said the money was a first instalment of $ 4.2 billion in blocked Iranian oil revenue that is to be made available to Iran under the Nov. 24 deal. That agreement is designed to curtail Iran’s nuclear activities for a six-month period beginning on Jan. 20 in exchange for sanctions relief from six major powers: Britain, China, France, Germany, Russia and the United States. Under the accord, Iran agreed to curb its most proliferation-sensitive nuclear activity - higher-level uranium enrichment – in return for some relief from Western sanctions. The agreement aims to give the two sides six months to reach a comprehensive deal to address all questions about whether Iran seeks nuclear arms. It says its program is for solely peaceful purposes such as generating electricity and medical isotopes. Among the total sanctions relief over the six months, $ 4.2 billion is in the form of access to currently blocked Iranian revenues held abroad. In January a US official said access to some of those funds depended on Iran keeping its commitment to dilute half of its 20% enriched uranium to no more than 5% enriched uranium.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.