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What is the US doing with Iran's "frozen" assets?


Press TV:

Thirty years after the takeover of the US Embassy in Tehran, the United States still holds Iran's frozen assets and properties without paying Tehran anything in assets-related financial gains, a report says.

On November 4, 1979, university students took over the building of the US embassy and held 52 American diplomats hostage for 444 days.

The students were convinced that Washington was plotting against the Islamic Revolution just months after the toppling of the US-backed shah.

Inside the embassy, they found shredded documents which proved their convictions.

Ten days later, former US President Jimmy Carter issued an executive order, freezing all assets and properties of the Iranian government, organizations and companies in the United States in response to the hostage taking.

During the past 30 years, all US presidents agreed every year to extend the order on frozen Iranian assets.

Iran and the US signed an agreement in 1981, known as the Algeria Declaration, which obliged Washington to remove the block on Iran's assets, including capital, military equipment, diplomatic possessions and the money belonging to the deposed shah of Iran and his family.

The US, however, fulfilled only parts of its commitments, according to a report by Fars news agency.

In 1994, the US proposed that it would return the frozen assets to Iran. However, it later became clear that Washington rented out part of Iran's properties to Romania and Turkey and deposited the income in a particular account.

The US has transferred $8 billion in Iranian frozen assets to the Bank of England and another $3.6 billion to the Federal Reserve, the report says.

It was even revealed that the US had built a parking lot at the site of a buildings which belongs to Iran.

Analysts believe it remains unclear why the US, which seeks to establish relations and hold negotiations with Iran, does not fulfill its commitments and shows no goodwill in practice.

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