45880
Azeri Bank Unblocks $400m in NICO Assets
Economy, Business And Markets

Azeri Bank Unblocks $400m in NICO Assets

Iran has gained access to $400m in frozen assets in a bank in Azerbaijan, an Azeri news agency reported.
Iran’s Ambassador to Azerbaijan Mohsen Pakayeen said that after the implementation of the Joint Comprehensive Plan of Action (JCPOA), the International Bank of Azerbaijan unblocked Iran's frozen assets, News.az reported.
The assets belong to Naftiran Intertrade Company (NICO) and the Central Bank of Iran, the envoy said.
Pakayeen noted that ties between Baku and Tehran, particularly economic relations, have improved following the implementation of the historic nuclear agreement.
The nuclear deal has also contributed to settling legal disputes  between Iranian and Azeri traders, the ambassador said.
Elaborating on the friendly ties between the two Caspian neighbors,  Pakayeen said Azerbaijan is likely to ease visa requirements for Iranians wanting to  visit the Caucasian state.
On President Hassan Rouhani’s upcoming visit to Baku for talks with his Azeri and Russian counterparts, the ambassador voiced Iran’s readiness to help settle the Nagorno-Karabakh conflict.
The conflict between the two South Caucasus countries began in 1988 and as a result of the ensuing war in 1992 Armenian armed forces occupied the Karabakh region and seven surrounding districts. A 1994 ceasefire agreement was followed by peace negotiations.

Short URL : http://goo.gl/B5wYt8
  1. http://goo.gl/fdzSv8
  • http://goo.gl/slXxc7
  • http://goo.gl/gy4xrq
  • http://goo.gl/kJ8B1u
  • http://goo.gl/EAJYHS

You can also read ...

Tehran Stocks Make Record Gains to Stand at All-Time Highs
Bulls are on parade in Tehran's equity market, and they are...
Aside from European countries, 70-75% of other countries are using EASA standards and regulations.
Plans are underway to update and implement new rules and...
Tech Titans Trying to Kill Calif. Privacy Initiative
As data-sharing scandals continue to mount, a new proposal in...
Freak Plunge in Nintendo's Stock
Nintendo has been red hot for the past few years, but...
People walk by the Paris branch of Bank Saderat Iran.
Bank Saderat Iran, which boasts the most expansive overseas...
Iran’s Share in Global Sheepskin Exports at 5%
Iran has a share of 5% in global sheepskin exports and a 1%...
Gold Coin Bullish Despite Massive Supply
Despite several schemes by the Central Bank of Iran to satisfy...
Venture Capital Funds Essential to Startup Growth
Praising venture capital funds, Iran's Vice President for...

Trending

Googleplus