Washington: Obama administration will pay the Iranian regime $490 million in cash assets, as part of its negotiations deal with the country. When talks in end in June a total of $11.9 billion will have been released.
In December 2013 the Obama administration had to admit to Israeli officials that they had underestimated the economic benefits Tehran would get from the Geneva accord.
The Geneva interim agreement is a pact signed between Iran and the P5+1 countries in Geneva, Switzerland. It consists of a short-term freeze of portions of Iran’s nuclear program in exchange for decreased economic sanctions on Iran, as the countries work towards a long-term agreement. It represents the first formal agreement between the United States and Iran in 34 years.
The Obama administration on Wednesday paid $490 million in cash assets to Iran and will have released a total of $11.9 billion to the Islamic Republic by the time nuclear talks are scheduled to end in June, according to figures provided by the State Department.
Today’s $490 million release, the third such payment of this amount since Dec. 10, was agreed to by the Obama administration under the parameters of another extension in negotiations over Tehran’s contested nuclear program that was inked in November.
Iran will receive a total of $4.9 billion in unfrozen cash assets via 10 separate payments by the United States through June 22, when talks with Iran are scheduled to end with a final agreement aimed at curbing the country’s nuclear work, according to a State Department official.
Iran received $4.2 billion in similar payments under the 2013 interim agreement with the United States and was then given another $2.8 billion by the Obama administration last year in a bid to keep Iran committed to the talks through November, when negotiators parted ways without reaching an agreement. (Source: Yournewswire).