Frozen Iranian funds freed up from Swiss banks

Baku. 25 January. REPORT.AZ/ Switzerland has freed up money from Iran that was frozen in Swiss bank accounts, Report informs referring to the Turkish media,. 

It’s come after sanctions against the state were lifted.

$11.8 million had been stopped from leaving Switzerland after being frozen between 2007 and 2012, as part of a sanctions programme against Iran to attempt to force the country not to develop and build an atomic bomb. 

After decades of negotiation, many United Nations (UN) sanctions were eased in January 2016 after a milestone nuclear deal was reached in 2015, meaning the money could be released.

A spokesperson for the State Secretariat for Economic affairs confirmed that the money had been unfrozen.