Iran receives $400m frozen funds along with $1.3bn interest

BY ANWAR IQBAL

WASHINGTON: President Barack Obama confirmed on Sunday that the United States had lifted certain nuclear-related sanctions from Iran after the Islamic Republic successfully implemented a deal signed in July last year.

At the same time he announced a settlement between the US and Iran at The Hague, in which Iran received $400 million in funds frozen since 1981 plus $1.3 billion in interest. This, he said, would save US money and time, as there was no point in dragging out this dispute and continuing to pay interest on the money.

“Now that Iran’s actions have been verified, it can begin to receive relief from certain nuclear sanctions and gain access to its own money that had been frozen,” said Mr Obama while addressing his nation from the White House.

“And perhaps most important of all, we’ve achieved this historic progress through diplomacy, without resorting to another war in the Middle East,” he said.

Read more » DAWN
See more » http://www.dawn.com/news/1233733/iran-receives-400m-frozen-funds-along-with-13bn-interest?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+dawn-news+%28Dawn+News%29&utm_content=FaceBook

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