Home / News/ Iran’s ¤ 14.4 million in blocked assets in Sri Lanka released

Iran’s ¤ 14.4 million in blocked assets in Sri Lanka released

Comments / {{hitsCtrl.values.hits}} Views / Tuesday, 12 September 2017 00:04

Iran yesterday announced that its € 14.4 million worth of foreign exchange assets in Sri Lanka have been released after the Joint Comprehensive Plan of Action (JCPOA) agreement.

The Head of the Financial Security and International Investment Department of the Iran Export Development Bank (IEDB) Kamran Rezvani said that after the JCPOA, € 22.3 million worth of Iranian foreign exchange assets in Sri Lanka and Cuba were released.

Rezvani said the preliminary steps for payment of the resources were made following frequent visits in the post-JCPOA era, IRNA reported.

He said that on the first leg, € 8 million out of the blocked assets were released in Cuba and € 14.4 million more have been freed in Sri Lanka.

He added that had the resources not been released, the damages should have been paid out of the resources of the Export Guarantee Fund and it would have definitely negatively affected the capability of the bank to pay damages.

Share This Article


1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.


Today's Columnists

Strong brands can sustain shocks!

Thursday, 22 March 2018

The recent media highlighted the impact of communal violence on the tourism industry. The press conference earlier this week threw out a number as high as 10% whilst the actual cancellation was around 500 room nights around the Kandy vicinity was rep

Racism, riots, and the Sri Lankan State

Thursday, 22 March 2018

“One’s life has value so long as one attributes value to the life of others, by means of love, friendship, indignation and compassion” – Simone de Beauvoir

Why Ranil is still needed

Thursday, 22 March 2018

The Joint Opposition move to pass a vote of no-confidence in Prime Minister Ranil Wickremesinghe will come a cropper. Ranil knows that best as he has tersely told a group of opposition pollies (Australia slang for ‘politicians’), “Come on! Pres

Putin, Mahinda and Gotabaya

Tuesday, 20 March 2018

I have to say that I am very happy indeed about the resounding victory scored by President Putin. If not for him, there would be no multi-polarity in the world; no chance of a global equilibrium; no ally for the rising economic power of China which w

Columnists More