TEHRAN, Iran – Iran said Tuesday that it successfully transferred some of the billions of dollars’ worth of frozen overseas assets following the implementation of the nuclear deal with world powers. But ordinary Iranians are waiting to see how their lives will improve and how quickly Iranian companies will gain access to global markets.
Credit cards still don’t work in the Islamic Republic and its ATMs remain separated from the rest of the world. That is not likely to change soon.
Valiollah Seif, the head of Iran’s Central Bank, said that Tehran transferred funds from banks in Japan and South Korea to Germany and the United Arab Emirates.
He did not say how much money was involved in the transfers, though he said the nuclear deal would give Tehran access to $32 billion in overseas assets.
President Hassan Rowhani said Iran needs to attract foreign investment and liberalize its state-run economy. “Government should withdraw from the economy in favor of the private sector, step by step,” he said.
Iran expects an economic breakthrough as it accesses its overseas assets and sells its crude oil.