In a significant development, $2.7 billion of Iran's frozen assets have been released from Iraq, according to Yahya Al-e Es’haq, the Head of the Iran-Iraq Joint Chamber of Commerce. This move is expected to have a positive impact on Iran's foreign currency market stability.

Yahya Al-e Es’haq shared this news during an interview with the Tasnim News Agency, highlighting the potential economic benefits this release of frozen assets could bring to Iran. Last week, the ISNA News Agency reported that a total of $24 billion of Iran's frozen assets would be released from both Iraq and South Korea in the near future.

The decision to release these frozen assets was made following the visit of the Sultan of Oman to Iran and the visit of a high-ranking aide to the US president to Oman. It was agreed upon as part of an understanding reached between the involved parties.

Furthermore, recent talks between the Governor of the Central Bank of Iran, Mohammad Reza Farzin, and the head of the International Monetary Fund, Kristalina Georgieva, in Washington, have yielded additional positive news for Iran. It has been decided that Iran will be granted access to more than $6.7 billion of its special drawing rights, providing further financial relief to the country.

These developments hold significant implications for Iran's economy, potentially alleviating some of the economic challenges the country has faced due to international sanctions and frozen assets. The released funds are expected to bolster Iran's foreign currency reserves and provide greater stability in the foreign exchange market.

As Iran continues its efforts to engage with the international community and improve its economic situation, these releases of frozen assets and the access to special drawing rights mark positive steps towards achieving those goals.