Iran confirms two new oil payments

Photo: Iran confirms two new oil payments / Iran

Baku, Azerbaijan, April 17

By Umid Niayesh - Trend:

Iran confirms two new payments for crude oil exports which were scheduled under Geneva nuclear deal.

Head of Central Bank of Iran, Valiollah Seif said that some $2.55 billion of frozen oil funds have been paid and transferred to the accounts of the unsanctioned Iranian banks in three Japanese banks and one Swiss bank so far in five instalments, the country's IRNA news agency reported on April 17.

Seif went on to say that Iranian Central bank has received three instalments of the payments, equal to $1.55 billion.

The fourth and fifth instalments of payments totalling $1 billion, will be transferred to Iranian Central Bank's account in the near future, the official added.

On April 17, Reuters reported that Japan has made two more payments to Iran for crude imports.

The payments totalled $1 billion, with one instalment of $550 million due on April 10 and the remainder on April 15, according to a schedule for the transfers on a U.S. Treasury fact sheet.

The fourth and fifth payments mean Iran has received $2.55 billion in frozen oil funds, with all but one payment coming from Japan. South Korea made the other payment.

Under a six-month interim deal between Iran and the P5+1(the five permanent UN Security Council members plus Germany) which took effect on Jan. 20, Iran won access to $4.2 billion of its oil revenues frozen abroad by eight money-transfer schedules through July if it carried out its part of the deal to curb its nuclear program.

The first $550 million transferred on Feb. 1, and followed by other installments of $450 million and $550 million on March 1 and 7 respectively.

The next three installments of $550 million each will be transferred on May 14, June 17 and July 20 respectively.

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