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According to recent reports, Iran is set to receive over $24 billion from its blocked foreign exchange resources in Iraq and South Korea, as well as through the country’s available resources in the International Monetary Fund. The funds are expected to be released based on information obtained during the Sultan of Oman’s visit to Iran. Of the total amount, more than $10 billion are related to energy exports to Iraq, while $7 billion are Iran’s blocked foreign exchange resources in South Korea.
The decision to release these blocked resources was made following the visits of the Sultan of Oman to Iran and the American President Biden’s advisor to Oman, as reported by Isna. Additionally, during a meeting between the head of the Central Bank of Iran, Farzin, and the head of the International Monetary Fund, Georgieva, in Washington, it was decided that Iran would be able to access more than $6.7 billion of its special drawing rights.
The release of Iran’s blocked foreign exchange resources is a significant development for the country, as it has been struggling with economic sanctions and restrictions on its oil exports in recent years. The funds are expected to provide a boost to Iran’s economy, which has been hit hard by these sanctions and the COVID-19 pandemic.
The decision to release the blocked resources was made following diplomatic efforts by Oman and the United States. Oman has traditionally been a mediator in regional conflicts and has had good relations with both Iran and the United States. The visit of the Sultan of Oman to Iran was seen as a positive step towards resolving the issue of Iran’s blocked resources.
The release of the funds is also a positive development for Iraq, which has been struggling with its own economic challenges in recent years. The majority of the blocked resources in Iraq are related to energy exports from Iran, so the release of these funds will help to strengthen economic ties between the two countries.
In addition to the release of blocked resources, the decision by the International Monetary Fund to allow Iran to access more than $6.7 billion of its special drawing rights is also significant. This move will provide much-needed liquidity to Iran’s economy and help to stabilize its currency.
Overall, the release of Iran’s blocked foreign exchange resources and access to its special drawing rights is a positive development for the country’s economy. However, it remains to be seen how the funds will be utilized and whether they will have a lasting impact on Iran’s economic challenges.
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