Iran Expected to Gain Access to Up to $15 Billion in Frozen Funds

Iran is expected to receive access to as much as $15 billion in frozen money in the coming days, according to an emerging memorandum of understanding. The release would be phased, with the first financial easing expected to begin almost immediately.

The funds are reportedly split between about $3 billion held in the United Arab Emirates and another $10 billion to $12 billion frozen in Qatar. The article says the move is part of understandings now being developed with Tehran.

The decision to allow access to the money was made after Iran provided commitments regarding its nuclear program under those understandings. The transfer process and the related economic relief are expected to start within days.