Azerbaijan releases Iran’s frozen assets
Iran says it has gained access to $400 million of its assets that had been frozen in Azerbaijan. Iran’s Ambassador to Baku Mohsen Pak Ayeen has been quoted by the media as saying that the measure has been taken by International Bank of Azerbaijan.
Pak Ayeen added that this came in line with the implementation of the Joint Comprehensive Plan of Action between Iran and the P5+1 – the five permanent members of the Security Council plus Germany.
The assets belonged to the Naftiran Intertrade Company (NICO) and the Central Bank of Iran, the envoy added.
Pak Ayeen further noted that bilateral ties between Baku and Tehran, particularly economic ties have improved after the JCPOA became effective this January.
The nuclear deal has also contributed to settling legal disagreements between Iranian and Azerbaijani traders, the media have quoted the ambassador as saying.
Elaborating on friendly ties between Tehran and Baku, Pak Ayeen announced that Azerbaijan is likely to ease visa requirements for Iranian citizens within the next couple of months, News.Az reported.
Iran saw a series of draconian economic sanctions lifted in mid-January when the JCPOA was eventually implemented.
The removal of the sanctions has cleared the way for unblocking billions of dollars that had been frozen in overseas banks.
The exact amount of Iranian assets frozen in banks is not known with figures varying from around $30 billion to as high as $100 billion.
Major sums are believed to be held in banks in China, South Korea and India, mostly over previous oil purchases those countries have carried out with Iran.
Iran’s economy grew 2.7% y/y in Sep quarter: CBI
Iran reports further drop in annual inflation rate in December
D-8’s role in Iran’s economy after Cairo summit
VIDEO | Yemeni forces repel US-British attack, down F-18 Jet
Iran’s capabilities vast; enemy’s ‘maximum pressure’ policies all failed miserably: Senior official
Iran’s economy grew 2.7% y/y in Sep quarter: CBI
VIDEO | Freelancers in Gaza strive to stay online amid genocide
Mikati demands Israel's withdrawal from south Lebanon
Yemeni army strikes Israeli military sites with drones
‘Clock ticking’: UNRWA slams unjustifiable killing of children in Gaza
BP to be sued in Britain for supplying oil to Israel
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
