Iran to get second tranche of payment under nuclear deal: IRNA

ANKARA Thu Mar 6, 2014 6:29am EST

Iran's Foreign Minister Mohammad Javad Zarif (L) shakes hands with Japanese Prime Minister Shinzo Abe at the start of talks at Abe's official residence in Tokyo March 5, 2014. REUTERS/Kimimasa Mayama

Iran's Foreign Minister Mohammad Javad Zarif (L) shakes hands with Japanese Prime Minister Shinzo Abe at the start of talks at Abe's official residence in Tokyo March 5, 2014.

Credit: Reuters/Kimimasa Mayama

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ANKARA (Reuters) - Iran will soon receive a second installment of previously frozen assets which are being returned to it under an interim nuclear agreement with world powers, the official IRNA news agency quoted its central bank chief as saying.

The official, Valiollah Seif, said on Wednesday that the new funds would be transferred to Iran's account "in the next three days", but did not state the amount.

Under a November 24 accord reached in Geneva, Iran is to scale back its nuclear activities for six months in exchange for sanctions relief from six major powers: Britain, China, France, Germany, Russia and the United States.

Iran agreed to suspend enrichment of uranium to 20 percent fissile concentration - a relatively short technical step away from the level required for nuclear bombs - and is taking action to neutralize its holding of the material.

In return, it is gradually winning back access to $4.2 billion of its oil revenues frozen abroad, along with some other sanctions relief.

The funds will be paid out in eight transfers on a schedule that started with a $550 million payment by Japan on February 1.

Last month, banking sources said South Korea was set to make two payments in March totaling $1 billion.

The International Atomic Energy Agency (IAEA) has a pivotal role in checking that Iran is living up to its part of the accord. Its head, Yukiya Amano, indicated on Monday that Iran had made sufficient progress to receive a scheduled March 1 installment of $450 million. A third payment of $550 million is due on March 7.

The nuclear agreement aims to give the two sides six months to reach a comprehensive deal to address all questions about whether Iran seeks nuclear arms.

Iran denies any such intention, saying its program is for solely peaceful purposes such as generating electricity and producing medical isotopes.

(Additional reporting by Fredrik Dahl in Vienna, Writing by Parisa Hafezi; editing by Mark Trevelyan)

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Comments (7)
BanglaFirst wrote:
Good timing,impose sanction on Russian money and crude & gas whilst loosening trade barriers with Iran ;)

Mar 06, 2014 8:25am EST  --  Report as abuse
sabrefencer wrote:
this is absolutely crazy, free up the money for the mullahs, to buy missiles and offense programs, to enhance, their soon to be nuke programs..just crazy!!!!!!

Mar 06, 2014 8:55am EST  --  Report as abuse
Trichiurus wrote:
In the additive world, this is called enabling. Something the West and Obama do so well now days.

Mar 06, 2014 9:59am EST  --  Report as abuse
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