US and Iran negotiating release of sanctioned Iranian funds

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Title : US and Iran negotiating release of sanctioned Iranian funds
Link : US and Iran negotiating release of sanctioned Iranian funds

Talks between Iran and the US on the release of Tehran's frozen assets could result in a deal soon, a source with direct knowledge of the talks told Iran International.

The breakthrough is part of the negotiations regarding Iranian funds held in Iraq and South Korea. Iraq imports gas and electricity from Iran, but US sanctions forbid the transfer of what Iranian officials estimate to be at least $10 billion USD to Iran in return. South Korea faces similar concerns regarding approximately $7 billion USD to be paid for importing Iranian oil.

Ira is expected to barter flexibility in its nuclear program for the funds being held in Iraq and to release five US citizens and residents charged with espionage in exchange for the funds from South Korea. The detainees are Siamak Namazi, Emad Sharghi, and Morad Tahbaz (US citizens), and Jamshid Sharmahd and Shahab Dalili (permanent residents). READ MORE