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Iran: $100 bln in assets will be released under nuclear deal

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Money exchange dealer posing with a U.S. dollar and the amount given to convert it into Iranian rials, at the current rate of exchange
Money exchange dealer posing with a U.S. dollar and the amount given to convert it into Iranian rials, at the current rate of exchange

Tehran, AP, 1 February 2016 - Iran says it now has access to more than $100 billion worth of frozen overseas assets following the implementation of the nuclear deal with world powers.
Government spokesman Mohammad Bagher Nobakht says much of the money had been piling up in banks in China, India, Japan, South Korea and Turkey since international sanctions were tightened in 2012 over Tehran’s nuclear program.
The agreement brought about the lifting of international sanctions last month after the U.N. verified that Iran had curbed its nuclear activities.
Iran’s semi-official ISNA news agency meanwhile quoted Central Bank official Nasser Hakimi as saying nine Iranian banks are now reconnected to SWIFT, a Belgian-based cooperative that handles wire transfers between financial institutions.

 

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