Iran Gets First Funds from Sanction Relief

$550 million agreed to in nuclear deal

A first tranche of $550 million in sanctions relief agreed under an interim nuclear deal has been paid into an Iranian Central Bank account in Switzerland, the official IRNA news agency said on Monday.

Quoting an informed source, the agency reported: "$550 million in frozen Iranian assets (were) transferred to Iran's Central Bank account in Switzerland.

The agency said the money was a first instalment of $4.2 billion in blocked Iranian oil revenue that is to be made available to Iran under the November 24 deal.