February 23, 2016 / 5:03 PM / 2 years ago

Iran getting less than $50 billion in cash after nuclear deal: Kerry

U.S. Secretary of State John Kerry testifies before a Senate Foreign Relations Committee hearing on the FY2017 State Department Budget Request on Capitol Hill in Washington, February 23, 2016. REUTERS/Yuri Gripas

WASHINGTON (Reuters) - U.S. Secretary of State John Kerry said on Tuesday that the amount of cash Iran will receive due to the implementation of the nuclear agreement is below the $50 billion level.

“It’s below the $50 billion (level),” he told the Senate Foreign Relations Committee, when he was asked about varying reports about how much money Iran would receive.

Iran gained access to about $100 billion in frozen assets when an international nuclear agreement was implemented last month, but much of it already was tied up because of debts and other commitments. Earlier reports had said Tehran would receive as much as $150 billion.

Reporting by Patricia Zengerle; Editing by Eric Walsh

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