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Araqchi: About $15bn Oil Revenues to Be Accessible as of January

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

He told IRNA that our government has envisaged 10 billion dollars to purchase food and medicine.

Araqchi said that the Western governments have undertaken to unfreeze Iranian assets to enable the government to fulfill its responsibility and humanitarian spendings in purchase of foodstuffs, agricultural produce, medicine, pharmaceutical equipment and the medical supplies.

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.

Araqchi added that foreign banks will unfreeze another $4.6 billion oil revenues and will deposit the amount to the Central Bank of Iran.

 


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