BAKU, Azerbaijan, October 7. Iran has got access to $1.7 billion of its frozen assets in Luxembourg, after a legal victory in the Supreme Court of Luxembourg, Trend reports.
The funds of the Central Bank of Iran (CBI) were blocked in 2020 based on a complaint from some US citizens in Clearstream Banking S.A. in Luxembourg.
Iran’s legal follow-up and protest led to the annulment of the decision to block the funds on September 28, 2023. This is one of several recent developments that have enabled Iran to access some of its frozen assets abroad.
Previously, the CBI also confirmed that $6 billion of its assets in South Korea have been transferred to an account in Qatar, following months of negotiations.
Moreover, Iran has been able to unlock $10 billion of its assets in Iraq, and can also borrow more than $6.7 billion from the International Monetary Fund (IMF) through the reserve asset (SDR).
These developments are hoped to ease Iran’s financial difficulties amid US sanctions.
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