Iran’s ¤ 14.4 million in blocked assets in Sri Lanka released

Tuesday, 12 September 2017 00:04 - - {{hitsCtrl.values.hits}}

Iran yesterday announced that its € 14.4 million worth of foreign exchange assets in Sri Lanka have been released after the Joint Comprehensive Plan of Action (JCPOA) agreement.

The Head of the Financial Security and International Investment Department of the Iran Export Development Bank (IEDB) Kamran Rezvani said that after the JCPOA, € 22.3 million worth of Iranian foreign exchange assets in Sri Lanka and Cuba were released.

Rezvani said the preliminary steps for payment of the resources were made following frequent visits in the post-JCPOA era, IRNA reported.

He said that on the first leg, € 8 million out of the blocked assets were released in Cuba and € 14.4 million more have been freed in Sri Lanka.

He added that had the resources not been released, the damages should have been paid out of the resources of the Export Guarantee Fund and it would have definitely negatively affected the capability of the bank to pay damages.

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.