U.S. Treasury Department confirms $550mln transfer to Iran

U.S. Treasury Department confirms $550mln transfer to Iran

PanARMENIAN.Net - The U.S. Treasury Department on Monday, Feb 3, confirmed that it has allowed the transfer of $550 million in Iran's frozen oil revenues to the country under an interim nuclear deal, according to Reuters.

A U.S. Treasury spokeswoman said the transfer began Jan 31 and would be complete early this week but declined to specify which foreign banks were involved.

No U.S. banks were involved in the transactions, but the United States, which has extensive sanctions on Iran tied to its disputed nuclear program, helped facilitate the transfer of funds, the spokeswoman said.

The money is the first installment of $4.2 billion in blocked oil funds that were to be made available to Iran under the nuclear deal signed in November. Iran received limited sanctions relief in exchange for agreeing to curb its nuclear activities.

Related links:
 Top stories
"I keep coming back to the fact that there is a connection between the Syrian crisis and what is happening in Ukraine," Assad said.
Investigators will also need the other black box which records flight data, information that is essential for probing air accidents.
"It's going to take a new generation of courageous conservatives to help make America great again," Cruz said.
Netanyahu said he had already spoken to the leaders of other right-of-center parties about forming a new government "without delay".
Partner news
Soghomon Tehlirian assassinated Talaat Pasha on March 15, 1921

Operation Nemesis was a covert operation by the Armenian Revolutionary Federation carried out from 1920 to 1922, during which a number of former Ottoman political and military figures were assassinated for their role in the Armenian Genocide.