Abbas Araghchi

Abbas Araghchi, the Iranian deputy foreign minister, has announced that $550 million has been deposited into the country’s Swiss account as the first installment of returned frozen assets.

Araghchi told ISNA that the payment of this installment was one of the first steps agreed upon in the Geneva agreement.

In November, Iran and world powers reached an interim deal to ease sanctions on Iran in exchange for Iran’s suspension of uranium enrichment at the 20 percent level. The deal also gives Iran access to some of its frozen assets.

The next round of talks to reach a final deal over the nuclear disputes with Iran will begin on February 18 in Vienna.