IRNA � The Islamic Republic of Iran is negotiating with Luxembourg officials to settle the issue of one billion and 600 million dollars of Iran�s blocked money in the European nation, says Deputy Foreign Minister Majid Takht-e-Ravanchi.

�The money blocked in Europe during the sanctions belongs to Iran Central Bank and due to the sanctions we did not have access to it,� the deputy foreign minister for European and American Affairs told reporters on the sidelines of a local meeting on Tuesday.

Takht-e-Ravanchi said that negotiations are underway between the Central Bank lawyers and their peers at the firm in Luxembourg to settle the issue and let Iran gain access to the fund.

Under the sanctions and over the course of nuclear negotiations between Tehran and P5+1 group of nations, parties, both inside and outside the United States, tried to oppose the Islamic Republic by generalizing the anti-Iranian acts and make other countries follow suit and take actions against Iran, he said.

�Iran believes that generalizing such acts tends to be unjust and baseless,� he said.