Under the Geneva deal between Iran and five permanent members of the United Nations Security Council plus Germany, the western countries have agreed to ease sanctions on Iran in response to Tehran\'s confidence-building move to continue its nuclear energy program at a lower level. But, there are... Show More >>Under the Geneva deal between Iran and five permanent members of the United Nations Security Council plus Germany, the western countries have agreed to ease sanctions on Iran in response to Tehran\'s confidence-building move to continue its nuclear energy program at a lower level. But, there are different accounts of the exact timing of the partial sanctions removal.
The U-S says Iran will see up to seven-billion-dollars worth of its frozen assets un-blocked. Out of this amount, Washington is expected to un-freeze some four-point-two billion dollars in oil revenue frozen in foreign banks. But, some remaining 40 billion dollars of Iran\'s oil export money will remain frozen. This is the amount Iran obtained through selling its oil under U-S and E-U sanctions imposed in early 20-12. Iran could also access another four-hundred-million dollars for educational purposes, such as the transfer of university tuition fees. France\'s Foreign Minister Laurent Fabius says this could happen in December. But British Foreign Secretary William Hague, as well as the spokesman for E-U\'s foreign policy chief Catherine Ashton, say they expect the sanctions easing to be completed in January.
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