Maintenance. We are currently updating the site. Please check back shortly

Thomson Reuters Foundation

Inform - Connect - Empower

EXCLUSIVE-Iran to get first $550 million of blocked $4.2 billion on Feb. 1

Source: Reuters - Sun, 12 Jan 2014 22:05 GMT
Author: Reuters
Tweet Recommend Google + LinkedIn Email Print
Leave us a comment

WASHINGTON, Jan 12 (Reuters) - Iran would receive the first $550 million installment of a total of $4.2 billion in previously blocked overseas funds on or about Feb. 1, a senior U.S. official said on Sunday.

Under a Nov. 24 nuclear agreement, six major powers agreed to give Iran access to $4.2 billion in revenues blocked overseas if it carries out the deal, which offers sanctions relief in exchange for steps to curb the Iranian nuclear program.

Some payments are contingent on Iran diluting its stockpile of 20 percent enriched uranium to no more than 5 percent enriched uranium. The U.S. official, who spoke on condition of anonymity, described the payment schedule as follows:

Feb 1 - $550 million (NOTE: Feb. 1 is a Saturday, so this payment may need to happen on Feb. 3);

March 1 - $450 million (payment for half of dilution);

March 7 - $550 million;

April 10 - $550 million;

April 15 - $450 million (payment for completion of dilution);

May 14 - $550 million;

June 17 - $550 million;

July 20 - $550 million (NOTE: July 20 is a Sunday, so this payment may need to happen on July 21). (Reporting By Arshad Mohammed; Editing by Bernard Orr)

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of the Thomson Reuters Foundation. For more information see our Acceptable Use Policy.

comments powered by Disqus
Most Popular
LATEST SLIDESHOW

Latest slideshow

See allSee all
FEATURED JOBS
Featured jobs