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Iran to have access to funds withheld due to US blockade

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Iran to have access to funds withheld due to US blockade

Tehran, Apr 7 (Prensa Latina) The Islamic Republic of Iran will soon have access to a large part of its foreign currency frozen in foreign banks due to US sanctions, IRNA news agency reported on Thursday.

Quoting a well informed but unidentified source, IRNA added that a significant part of Iran’s frozen foreign currency resources will be released under a new agreement, different from the 2015 nuclear deal.

The report refers that the funds will be the second largest foreign currency opening in recent weeks, higher than a 512 million dollar payment made recently by the United Kingdom to Tehran to settle an earlier debt.

Iran has tens of billions of dollars in funds in foreign banks that it cannot access due to the sanctions the United States reinstated against this country, following its unilateral withdrawal from the nuclear deal in May 2018.

Most of the funds are seized in banks in South Korea, Iraq, China, Japan and India, under the excuse of abiding by Washington’s sanctions.

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