Azerbaijan unblocks Iran’s frozen assets

Iran has gained access to $400m in frozen assets in a bank in Azerbaijan, an Iranian envoy said.

Iran’s Ambassador to Azerbaijan Mohsen Pak Ayeen has said that after the implementation of the Joint Comprehensive Plan of Action (JCPOA, aka nuclear deal), International Bank of Azerbaijan unblocked Islamic Republic’s frozen assets, Fars news agency reported.

The assets belonged to the Naftiran Intertrade Company (NICO) and the Central Bank of Iran, the envoy added.

Pak Ayeen further noted that bilateral ties between Baku and Tehran, particularly economic ties have improved following the implementation of the JCPOA.

The nuclear deal has also contributed to settling legal disagreements between Iranian and Azerbaijani traders, the ambassador added.

Elaborating on friendly ties between Tehran and Baku, Pak Ayeen announced that Azerbaijan is likely to ease visa requirements for Iranian citizens within the next couple of months.

Speaking about President Hassan Rouhani’s upcoming visit to Baku for trilateral talks with Azerbaijani and Russian counterparts, the ambassador voiced Iran’s readiness to help settling the Nagorno-Karabakh conflict.

The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan. As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts. The 1994 ceasefire agreement was followed by peace negotiations.

Armenia has not yet implemented four UN Security Council resolutions on withdrawal of its armed forces from the Nagorno-Karabakh and the surrounding districts.

By News. AZ