Volume. 12227

Iran to get next tranches of payment under nuclear deal from India
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c_330_235_16777215_0___images_stories_edim_02_am3(90).jpgTEHRAN – Iranian Deputy Foreign Minister Abbas Araqchi announced on Tuesday that India will pay the sixth and seventh installments of a total of 4.2 billion dollars in previously blocked overseas funds which are being returned to Iran under an interim nuclear deal with the major powers.    
“The process of receiving the installments from India is underway and the payments will be made soon,” Araqchi said. 
Under the interim deal which was struck in Geneva last November, Iran agreed not to expand its nuclear program for six months in exchange for limited sanctions relief. The agreement came into force on January 20. Iran and the major powers have set a July 20 deadline to clinch a long-term nuclear deal. The deadline can be extended by another half year if both sides agree. 
Recent IAEA reports have confirmed Iran’s commitment to the Geneva accord. In return, Iran is gradually gaining access to 4.2 billion dollars of its oil revenues frozen abroad in eight transfers, along with some other sanctions relief. Japan and South Korea paid the previous installments to clear some of their debts for oil bought from Iran. 

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