Senior Iranian negotiator: Some $15 bln of Iran’s blocked petrodollars to be released after nuclear deal

Business Materials 30 November 2013 16:55 (UTC +04:00)

Baku, Azerbaijan, Nov. 30

By Fatih Karimov - Trend:

Iran will get access to $15 billion of its blocked petrodollars for a period of six months after the Geneva nuclear deal comes into effect, IRNA quoted senior Iranian negotiator Abbas Araqchi as saying on November 30.

Some $10 billion of the sum will be available for importing foods and medicine, he said.

Moreover, $4.6 billion will be deposited to the Central Bank of Iran and $400 million will be used to pay tuition fees of Iranians studying abroad, he added.

Iran's nuclear boss Ali Akbar Salehi says a landmark nuclear deal Tehran recently clinched with six world powers in Geneva will take effect in late December, Press TV reported.

Salehi, who is head of the Atomic Energy Organization of Iran (AEOI), said on Wednesday that the deal will take effect on December 20.

In exchange for Iran agreeing to limit certain aspects of its nuclear activities, the United States and its allies have agreed to lift some of the existing sanctions and let Tehran reap as much as $7 billion in relief from economic sanctions over six months.

The Geneva accord would temporarily lift White House executive orders of July 2012 and June 2013 that imposed penalties on countries trading petrochemicals with Iran.