Iran to receive 5th installment of frozen funds

Director general for political and international affairs , Hamid Ba’eedinejad

Press TV -(Fri Apr 11, 2014) A senior Iranian nuclear negotiator says the Islamic Republic will next week receive the fifth installment of the $4.2-billion blocked funds it was promised as part of an interim nuclear deal with six world powers.

“As of today, four out of the eight installments of our country’s frozen assets have been released, and (Iran’s) unlocked assets will add up to $2.65 billion after the fifth tranche is released next week,” Hamid Ba’eedinejad, the director general for political and international affairs at Iran’s Foreign Ministry, said on Friday.
Ba’eedinejad, who heads Iran’s expert-level team at the nuclear negotiations with the six world powers, further stated that the Central Bank of Iran can use the unfrozen assets to purchase foreign currencies, gold and other commodities that do not violate the sanctions against Tehran, stressing that efforts are underway in this regard.
He said Iran’s accounts have been fully activated in designated Japanese and Swiss banks, and basic commodities as well as medicine and agricultural products are being ordered using the assets frozen in Western banks.
The top Iranian official also added that the necessary permits for the overhaul of the engines of Iran’s commercial airliners have been prepared, and the engines will soon be dispatched to overhaul centers in Europe.
Aerospace giant Boeing has recently been granted permission by the US Treasury Department to sell plane parts to Iran.
Boeing said the license was granted as part of the sanctions relief granted to Iran under the Geneva nuclear deal struck last November. It stated that the license covered the export of certain spare parts for commercial Boeing airplanes sold to Iran before the 1979 Islamic Revolution and did not allow sales of new aircraft to the Islamic Republic.
Iran and the five permanent members of the UN Security Council – the United States, China, Russia, France and Britain – plus Germany reached an interim nuclear deal in the Swiss city of Geneva on November 24, 2013.
Under the deal, Iran agreed to limit certain aspects of its nuclear activities as a confidence-building measure, and the world powers undertook to provide Iran with some sanctions relief.

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