Iran receives two tranches of unfrozen $1 billion

Iran has received two tranches worth $1 billion of unfrozen assets. The finances were accumulated from oil experts and transferred to the account of the Iranian Central Bank in Oman, Trend reports.

Iran has already received $2.65 billion out of $4.2 billion unfrozen as part of the joint action plan signed by Iran and the Group of Six in Geneva in November 2013. Iran, in exchange, scaled-down its nuclear program.

The stage-by-stage realization of the plan has been ongoing since January 20. The unfrozen assets will be transferred from banks of the U.S. and other Western allies in 8 tranches.

The Iranian Central Bank may use the funds to buy foreign currency, gold and other products that were not blacklisted in the sanctions.