US explains nuclear deal with Iran

WASHINGTON: Iran will receive $4.2 billion from blocked overseas funds and about $7 billion of benefits from sanctions relief for concluding an interim nuclear deal with the P5+1 countries, US officials said on Monday.The first instalment of $550 million will be released on Feb 1 and the rest will in six instalments. The entire fund, blocked in the West due to a nuclear dispute with the West, will be transferred to Iran by July this year.