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$2.7 billion of Iran's frozen assets released from Iraq, boosting currency market stability
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Yahya Al-e Es'haq, the Head of the Iran-Iraq Joint Chamber of Commerce, has made a significant announcement regarding Iran's frozen assets. In an interview with Tasnim News Agency, Al-e Es'haq revealed that a substantial amount of $2.7 billion from Iran's frozen assets has been successfully released from Iraq.

Further shedding light on the matter, Al-e Es'haq disclosed that an even greater sum of $24 billion of Iran's frozen assets is set to be released in the near future, with Iraq and South Korea both involved in the process. The decision to unlock these frozen assets came as a result of diplomatic efforts, including the recent visit of the Sultan of Oman to Iran and a high-level delegation from the United States, represented by a presidential aide, also visiting Oman. These diplomatic engagements culminated in an understanding to release the long-awaited assets.

Additionally, an important meeting took place in Washington, D.C., between Mohammad Reza Farzin, the Governor of the Central Bank of Iran, and Kristalina Georgieva, the esteemed head of the International Monetary Fund. During this meeting, an agreement was reached that will enable Iran to access an impressive sum exceeding $6.7 billion of its special drawing rights.

This breakthrough in releasing frozen assets, coupled with the anticipated access to special drawing rights, signifies a positive turning point for Iran's financial situation. As the funds are gradually released, experts predict a notable boost to Iran's foreign currency market stability, potentially paving the way for further economic growth and development in the country. (ILKHA)



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