Iran Repatriates 13 Tons of Gold Under Sanctions Relief

Iranian officials said Monday that the Islamic Republic’s Central Bank has successfully repatriated 13 tons of gold as part of a package of sanctions relief provided to Iran by U.S. and Western powers.

The gold was transferred to Iran by the government of South Africa, which had been holding onto the assets due to harsh sanctions meant to pressure Tehran to reign in its rogue nuclear program.

The gold appears to have been released as part of a sanctions relief package that will have awarded Iran nearly $12 billion in unfrozen cash assets by the time negotiations wrap up next week.

Iran’s GDP has grown 3 percent in the last year, prompting experts to warn that ongoing sanctions still imposed on Tehran are not working.

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“The report represents the latest sign of improvement in Iran’s economy in part as a result of the partial sanctions relief it received after signing an interim nuclear agreement in November 2013,” according to Iranian expert Saeed Ghasseminejad, an associate fellow at the Foundation for Defense of Democracies (FDD).

This rate of growth has enabled Iran to grow its oil sector and halve its rate of inflation.

“The erosion of the sanctions regime raise serious questions over Western countries’ leverage over Tehran in nuclear negotiations, and whether reaching an acceptable nuclear deal is even possible,” Ghasseminejad said.

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