Published On: Mon, Feb 1st, 2016

Iran: $100 Billion in assets ‘fully released’ under nuclear deal

Tehran spokesman says much of money was piling up in banks in China, India, Japan, South Korea and Turkey since 2012; Nine Iranian banks are to join the Society for Worldwide Interbank Financial Telecommunication (SWIFT) on Monday.

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Iran says it now has access to more than $100 billion worth of frozen overseas assets following the implementation of the nuclear deal with world powers, Ap reports.

The news agency says government spokesman Mohammad Bagher Nobakht says much of the money had been piling up in banks in China, India, Japan, South Korea and Turkey since international sanctions were tightened in 2012 over Tehran’s nuclear program. His comments were posted on the website of state-run Press TV on Monday.

The nuclear-related economic sanctions against Iran were lifted in mid-January after a landmark deal that the country had sealed with the P5+1 – the five permanent members of the Security Council plus Germany – was officially implemented.

Iran’s IRNA news agency reports that Governor of the Central Bank of Iran Valiollah Seif said on Sunday that nine Iranian banks are to join the Society for Worldwide Interbank Financial Telecommunication (SWIFT) on Monday. Other Iranian banks which were not under sanctions continued operation after implementation of the Joint Comprehensive Plan of Action (JCPOA), he said.

There will be no obstacle in opening of letter of credits for Iranian banks, underlined the CBI governor.

 

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