Iran says 1.6 billion USD released in Luxembourg
(VOVWORLD) - Iran has won a legal battle to recover 1.6 billion USD worth of assets long frozen at US request in Luxembourg, said President Hassan Rouhani during a televised cabinet meeting Sunday.
Iran’s President Hassan Rouhani addresses a cabinet meeting in Tehran on April 8, 2020. (Photo: AFP/VNA)
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Billions of dollars in Iranian assets were frozen in the US and Europe in an effort to push Tehran into a nuclear deal, called the Joint Comprehensive Plan of Action, which was signed in July 2015.
In 2018 the US unilaterally withdrew from the deal and re-imposed tough sanctions that have severely damaged Iran’s oil sector and its wider economy.