Mohammadbagher Nobakht

The Iranian government has confirmed the release of its frozen assets in the instalments set out in the Geneva's agreement.

At a press conference, government spokesperson Mohammad Bagher Nobakht announced that to date, all instalments have been made according to the Geneva's agreement.

In recent weeks, some members of Parliament and the conservative press have criticized the government, alleging delays in the payments.

According to the Geneva agreement, $4.2 billion of Iran's assets that have been blocked due to Western sanctions against the Islamic Republic's nuclear programs are to be freed.

Raising the subject of bank processes and procedures, Mr. Nobakht said: "Our intention is that, in addition to using these monies in the form of numbers in bank wire transfers, we also want to use them as cash through a new bank account."

According to Mr. Nobakht, the special feature of the new bank account, as stipulated in the agreement, is that it now allows cash withdrawals, unlike previous arrangements.

He also added that in order to satisfy the monitory needs inside the country, agreements have been made with several banks to facilitate the transfer of currencies.