A Tally of Iran Sanctions Relief Includes More Than $10 Billion in Cash, Gold
By GCRU Gold News on Saturday, December 31 2016, 01:58 - Permalink
In the three years since a preliminary nuclear deal was struck with Iran, Tehran has received more than $10 billion in sanctions relief from around the world in the form of cash and gold, according to current and former U.S. officials.
The large shipments of gold and cash, from oil funds unfrozen in numerous countries, represent the kind of financial relief that made Iran’s leaders eager to complete the international nuclear accord. Some of the cash and gold went to Iran while the U.S. and other world powers negotiated with Tehran on a final nuclear deal. More shipments took place after final deal went into effect last January.
The $10 billion of cash and gold was moved through third-party countries in the Middle East and Europe, according to the U.S. officials. The process began with countries such as Japan, India and South Korea unfreezing Iranian oil revenues held in international bank accounts, then wiring the funds to banks in Oman and United Arab Emirates, and at times to institutions in Switzerland and Turkey, the officials said.
The money then was converted to currency and bars of gold, the officials said. The only restriction the White House put on the transactions was that the cash couldn’t include U.S. dollars.
A Tally of Iran Sanctions Relief Includes More Than $10 Billion in Cash, Gold