Switzerland releases Iran’s frozen assets

TEHRAN (Tasnim) – Switzerland has released millions of dollars of Iran’s frozen funds in the wake of the removal of anti-Tehran sanctions, a Swiss official confirmed.

A spokesperson for Switzerland’s State Secretariat for Economic Affairs said on Sunday that $11.8 million have been unfrozen, Swissinfo.ch reported.

The money had been stopped from leaving Switzerland after being frozen between 2007 and 2012 as part of anti-Iran sanctions.

It belonged to either individuals, companies or government-owned institutions.

The move came a week after the Joint Comprehensive Plan of Action (JCPOA), a lasting nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany), came into force.

Based on the nuclear deal, reached in July 2015, all nuclear-related anti-Iran sanctions have been removed.

By Tasnim News Agency