A senior regional official is visiting Tehran on Tuesday to finalize the mechanism for releasing seven billion dollars of Iran’s frozen funds.
The senior official will discuss the release of Iranian funds besides a range of other issues, Iran’s official IRNA news agency quoted an informed official at the Central Bank of Iran (CBI).
Iranian Foreign Ministry Spokesman Saeed Khatibzadeh has also confirmed media reports suggesting that Tehran will be able to access billions of dollar worth of funds that have remained frozen in foreign banks because of American sanctions.
The required framework for releasing a considerable part of Iran’s frozen assets has been specified and agreed upon, he told IRNA’s foreign policy correspondent.
The blocked funds should be received in Iran’s bank accounts within a specific timeframe of few weeks, according to the framework.
The framework resembles the one agreed upon with the UK that led to the transfer of 470 million euros to Iran’s bank accounts.
The funds to be released under the recent agreements amount to seven billion dollars.
Some Arab media announced on Monday that Oman’s Foreign Minister Sayyid Badr Albusaidi will visit Tehran on Tuesday.
Sources have not released detailed information about this news, but some media reports suggest that Albusaidi's visit to Tehran is related to the release of part of Iran's blocked assets.
South Korea have frozen some $7 billion of Iran’s oil sales since the United States re-imposed sanctions on Tehran in 2018 and the ongoing negotiations in Tehran are expected to be related to the release of the Iranian assets in South Korea.
The release of the funds in South Korea could affect the ongoing efforts in Vienna by Iran and world powers to revive a 2015 nuclear deal – known as JCPOA.