Iran receives $500 million in unfrozen funds

02/02/2014 (Al Arabiya News – Saudi Arabia): Iran has received the first $500 million portion of unfrozen funds as the beginning phases of the nuclear deal between Iran and six world powers sets into motion. Deputy Foreign Minister Abbas Araqchi told ISNA news agency Saturday that the transfer of funds was finalized according to the agreement. “The first tranche of $500 million was deposited in a Swiss bank account, and everything was done in accordance with the agreement,” Araqchi said. The first of six installments of sanctions relief, prior to the funds transfer described by the White House as “restricted,” were not accessible by Iran’s government until Feb. 1. Each installment interval is $450- 550 million. Iran will receive a final bulk installment of $4.2 billion on the last day of the six-month period…



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