CBI to form working group on return of Iran assets, chief

TEHRAN, Dec. 2 (PNA/IRNA) –Central Bank of Iran Governor, Valiollah Seif said a working group is to be formed next week to follow up return of Iran’s blocked assets.

Talking to IRNA here on Monday, he said his bank is forming the working group to carry out necessary follow ups on return of Iran’s blocked assets based on the agreement recently reached in Geneva.

He noted that the return of the assets will not take place at once.

Saying that the fixed figure of the assets to return to the country is not clear yet, he added the new working group is to make the needed studies on it.

Deputy Foreign Minister for Legal and International Affairs Abbass Araqchi said on Saturday that some US$ 15 billion oil revenues will be accessible as per the Geneva accord to take effect late December or early January.

He told IRNA that the government has envisaged $ 10 billion to purchase foodstuff and medicine will be accessible.

He noted that the agreement with the western governments required the foreign banks to open up letters of credits for essential orders of the Islamic Republic of Iran from the deposits they held owing to sanctions.

He added that foreign banks will unfreeze another $ 4.6 billion oil revenues and will deposit the amount to the Central Bank of Iran. (PNA/IRNA)