An Iranian shopkeeper counts one hundred thousand rial banknotes in his kiosk in Tehran, Iran. Photo by ABEDIN TAHERKENAREH / EPA
June 18 (Asia Today) -- Iran could gain access to tens of billions of dollars in overseas assets frozen under U.S. sanctions following a memorandum of understanding with Washington to end hostilities.
The United States and Iran signed the agreement remotely Wednesday, bringing the framework into effect.
Under the agreement, Washington pledged to issue the licenses and approvals needed for Iran to use frozen assets once Tehran fulfills the terms of the memorandum.
Estimates of the total value of Iran's inaccessible overseas assets vary widely.
