Iran International:

Talks between Iran and the US on the release of Tehran's frozen assets could result in a deal soon, a source with direct knowledge of the talks told Iran International.

Apparently, the talks that have made progress focused on Iranian funds held in Iraq and South Korea. The money in Iraqi banks could be as much as $10 billion or more by most recent estimates mentioned by Iranian officials. Iraq imports natural gas and electricity from Iran but is barred by US sanctions to make dollar transfers to Tehran.

South Korea holds $7 billion, which it owes for importing Iranian oil prior to full US sanctions imposed in May 2019.

The implementation of the deal, however, will take time, the source told Iran International.

Iran is expected to show more flexibility on issues related to its nuclear program in exchange for the release of its funds in Iraq, and free hostages with dual nationality in exchange for its assets in South Korea. Currently there are three dual nationals with American citizenship and two individuals with US permanent residency held by Iran on trumped-up charges of espionage.

The three citizens are Siamak Namazi, Emad Sharghi and Morad Tahbaz, while Jamshid Sharmahd and Shahab Dalili are US permanent residents.

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