Iran to get first $550 million of blocked $4.2 billion on February 1

[jsr]

Source: Reuters

(Reuters) - Iran would receive the first $550 million installment of a total of $4.2 billion in previously blocked overseas funds on or about February 1, a senior U.S. official said on Sunday.

Under a November 24 nuclear agreement, six major powers agreed to give Iran access to $4.2 billion in revenues blocked overseas if it carries out the deal, which offers sanctions relief in exchange for steps to curb the Iranian nuclear program.

Some payments are contingent on Iran diluting its stockpile of 20 percent enriched uranium to no more than 5 percent enriched uranium. The U.S. official, who spoke on condition of anonymity, described the payment schedule as follows:

Feb 1 - $550 million (NOTE: February 1 is a Saturday, so this payment may need to happen on February 3);

Read more: http://www.reuters.com/article/2014/01/12/us-iran-nuclear-usa-installment-idUSBREA0B0LW20140112

[Comrade Grumpy]

1. Blocked revenues = We stole your money, and we're holding it hostage.

[lostincalifornia]

2. This was part of the agreement, the money was withheld because they signed the non-proliferation

treaty, and the funds were withheld for leverage. Now one may argue that no nation has a right to stop any other nation from building nuclear weapons, but that was not the basis of withholding the money. The basis was leverage to negotiate, and that is what is being done.

We can have a pissing contest over whether it was stolen or not, or we can move forward.

I prefer to move forward, and it appears that Iran, the European nations, and the administration prefer that also.

It sure beats bombing the shit out of people, or invading countries, and dialogue is good. In fact since the hostage crisis there has been no official dialogue with Iran, so I would say that engaging in a dialogue which has been lacking for over 25 years is a good thing.