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2014-04-18 18:12:00

JAPAN PAYS $1B

JAPAN PAYS $1B

Japan made two more payments to Iran for crude imports that were scheduled under an interim nuclear deal, two sources with knowledge of the transactions said, in return for Tehran's moves to reign in its disputed nuclear programme.

Iran's central bank had received the payments from Japan, one source said. A second source confirmed Japan had made the transfers.

The payments totalled $1 billion, with one instalment of $550 million due on April 10 and the remainder on April 15, according to a schedule for the transfers on a U.S. Treasury fact sheet.

Japan's finance ministry and central bank have declined to comment on the payments.

The fourth and fifth payments mean Iran has received $2.55 billion in frozen oil funds, with all but one payment coming from Japan. South Korea made the other payment.

Under a Nov. 24 agreement with six major powers, Iran won access to $4.2 billion of its oil revenues frozen abroad by eight money-transfer schedules through July if it carried out its part of the deal to curb its nuclear programme.

A senior Iranian official told the official IRNA news agency on Tuesday that Tehran expected to get the fifth instalment of the frozen funds this week, signalling the country was in compliance with its obligations under the November agreement.

reuters.com

Tags: IRAN, OIL, JAPAN

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