Baku, Azerbaijan, June 8
Trend:
Armenia unblocked Iran's frozen assets, Fars news agency quoted an Iranian banking official as saying June 8.
The head of the branch of Iran's Mellat bank in the Armenian capital of Yerevan, Gholamreza Mousavi said Yerevan unblocked 10 million euros in frozen assets since the Joint Comprehensive Plan of Action (JCPOA) was implemented Jan. 16.
International sanctions against Iran, including the banking restrictions, were removed last January as the historic nuclear deal, aka JCPOA, between Tehran and the six world powers came into force.
The Mellat bank launched its branch in Yerevan in 1996. Small and medium sized companies who do business with Iran are its main customers.
The branch's assets in Armenia amounted to 29.6 billion drams (1 USD makes about 479.17 drams) in the first months of the current year, which indicates a 0.9-percent increase compared to the figure recorded in the beginning of the year.