Volume. 12229

First tranche of payment under terms of extension of Iran nuclear talks released
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c_330_235_16777215_0___images_stories_edim_02_am1(371).jpgTEHRAN – A senior Iranian nuclear negotiator announced on Sunday that the first installment of a total of 2.8 billion dollars in previously blocked overseas funds, which must be returned to Iran under the terms of an agreement to extend Iran nuclear talks, had been released. 
The process of paying the installment into the account of the Central Bank of Iran is underway, Iranian Deputy Foreign Minister Abbas Araqchi said. 
Iran and the 5+1 group (the five permanent members of the UN Security Council plus Germany) failed to meet a self-imposed July 20 deadline to strike a comprehensive deal to resolve the dispute over Tehran’s nuclear program and agreed to extend the talks on a final deal until November 24. 
Under the terms of the extension of the talks, Iran gained access to 2.8 billion dollars of its assets which are frozen abroad due to sanctions against the country. The money is scheduled to be returned to Iran in six tranches. 
As part of the extension agreement, Iran agreed to uphold its commitments based on an interim nuclear deal that Iran and the major powers clinched last November in Geneva for four more months.   
Under the interim accord, which was supposed to expire on July 20, Iran scaled down parts of its nuclear program for six months in exchange for limited sanctions relief.  

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