BREAKING NEWS

IRNA: Iran receives $1 billion under extended nuclear deal

By REUTERS

SEPTEMBER 4, 2014 17:16

DUBAI - Iran's central bank has received a total of $1 billion of previously frozen oil revenue from Japan under the terms of an extended nuclear agreement with six world powers, state news agency IRNA reported on Thursday.

Iran and the United States, China, France, Germany, Britain and Russia agreed in July to extend a six-month interim accord until Nov. 24 after they failed to meet a July 20 deadline for reaching a long-term deal to end their nuclear dispute.

In return for continuing action to curb its nuclear program, Iran would receive $2.8 billion during the four-month extension of its funds held in foreign banks, in addition to $4.2 billion paid during the January-July period.

US officials say more than $100 billion of Iran's funds are held abroad and are difficult to access because of tightening sanctions on the major oil producer in recent years.

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