“Due to banking sanctions, we are currently facing many problems for receiving our oil money. Under these circumstances, CBI and banking officials should propose approaches for the transfer of oil revenues,” director for international affairs of National Iranian Oil Company (NIOC) Mohsen Qamsari said.
“The private sector can definitely facilitate oil money transfer operations,” he added.
Qamsari said that the private sector could not buy oil at low prices to sell at higher price in international markets.
The first portion of Iran’s frozen assets, released following the extension of the interim Geneva agreement, is scheduled to be deposited to Central Bank of Iran's account. Five hundred million dollars of Iran’s assets has been released.
Based on the July agreement between Iran and six world powers in Vienna, the 2.8-billion-dollar amount will be paid to Iran in six parts – four 500-million-dollar and two 400-million-dollar installments, in three-week intervals.
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