Iran Moves Assets as Successful Test of Lifting of Sanctions

The head of Iran’s central bank says it has successfully transferred some of its formerly frozen assets in order to ensure that financial sanctions have been fully lifted in accordance with a historic nuclear deal.

State media on Tuesday quoted Valiollah Seif as saying Iran has transferred assets from banks in Japan and South Korea to other banks in Germany and the United Arab Emirates. He did not provide the amount of the transfers.

Seif says the lifting of sanctions, which took place over the weekend after the U.N. verified Iran’s compliance with the nuclear deal, would give Tehran access to $32 billion in overseas assets.

President Hassan Rouhani said Tuesday that now that sanctions have been lifted, Iran should redouble efforts to attract foreign investment and liberalize its economy.