US releases $450 million of frozen Iranian funds after IAEA report

April 17, 2014 22:03

WASHINGTON - The United States has taken steps to release a $450 million installment of frozen Iranian funds following a report from the International Atomic Energy Agency (IAEA) verifying that Iran is living up to its part of a landmark nuclear pact with world powers, the US State Department said on Thursday.

State Department spokeswoman Marie Harf said that "all sides have kept the commitments made" under the agreement. She said that "as Iran remains in line with its commitments," the United States, France, Germany, Britain, China, Russia and the European Union "will continue to uphold our commitments as well."

The report by the UN nuclear agency showed that Iran had - as stipulated under the Nov. 24 agreement - diluted half of its higher-grade enriched uranium reserve to a fissile content less prone to bomb proliferation. Tehran has also continued to convert the other half of its stock of uranium gas refined to a 20 percent fissile purity, the IAEA report said.

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