Iran announces the release of $2 billion frozen in a “neighboring country”.

Iran’s Fars News Agency revealed on Tuesday that more than $2 billion of frozen Iranian assets had been released by a neighboring country, likely Iraq.

The Iranian agency quoted an informed source confirming that “these funds are located in a neighboring country,” without naming it.

This came after a statement made by an official in the Iranian Planning and Budget Organization on Monday evening, in which he indicated that “billions of dollars had entered the country,” without providing further details at the time about the source of these funds or the mechanism for transferring them.

This comes at a time when Tehran has witnessed protests against the sharp decline in the value of the Iranian rial (toman), with the price of the dollar exceeding 1.4 million rials (or 140,000 tomans).

It is worth noting that the Iranian economy is suffering from multiple pressures, including international sanctions, which contribute to the continued challenges to living standards and fluctuations in the exchange market.

Shafaq.com