Iran receives last installment of $4.2bn frozen assets

Iran has received the last installment of its $4.2-billion frozen assets released under the Geneva interim deal in November 2013, the Central Bank of Iran said.

India made the payment to the Central Bank of Iran (CBI) on Saturday under the terms of the interim nuclear deal with the five permanent UN Security Council members plus Germany, which allowed the release of $4.2bln in blocked Iranian funds globally, the CBI said.
With the latest payment, the CBI has received all $4.2bln in frozen oil earnings agreed to be released under the Geneva deal.
The installment was received through the Central Bank of the United Arab Emirates.
Iran and the Sextet of world powers clinched a long-sought deal in November in the Swiss city of Geneva. The two sides agreed to the stage-by-stage implementation of the interim agreement reciprocating one another since January 20.
The accord required the West to ease some of the existing sanctions in exchange for Tehran’s confidence-building measure not to develop the national nuclear program for a six-month period.
The frozen Iranian assets were released in eight installments, as agreed, and Tehran diluted its 20% enriched uranium within 12 months.
Iran and the G5+1 ended over two weeks of negotiations in Vienna late in July with no final agreement between the two sides which was due to be reached before the July 20 deadline.
The two sides agreed to extend the talks till November 24 for brokering a final deal.
Iranian Foreign Minister Mohammad Javad Zarif and EU Foreign Policy Chief Catherine Ashton in a joint statement after over two weeks of talks stressed the need for more efforts and time to reach an agreement with the world powers over Tehran's nuclear program.
Zarif and Ashton who presided the negotiating sides, emphasized at the end of Iran-world powers negotiations that they have held different sessions in different forms and in a constructive atmosphere to reach a final comprehensive agreement.
Due to certain differences over some fundamental issues the two sides agreed to extend the Joint Plan of Action by November 24, they added.