WASHINGTON Feb 3 The U.S. Treasury Department
on Monday confirmed that it has allowed the transfer of $550
million in Iran's frozen oil revenues to the country under an
interim nuclear deal.
A U.S. Treasury spokeswoman said the transfer began Jan. 31
and would be complete early this week but declined to specify
which foreign banks were involved.
No U.S. banks were involved in the transactions, but the
United States, which has extensive sanctions on Iran tied to its
disputed nuclear program, helped facilitate the transfer of
funds, the spokeswoman said.
The money is the first installment of $4.2 billion in
blocked oil funds that were to be made available to Iran under
the nuclear deal signed in November. Iran received limited
sanctions relief in exchange for agreeing to curb its nuclear