The United States will release $12 billion in frozen assets to Iran before the start of negotiations, Mehr news agency has reported, quoting a 14-point memorandum of understanding between the two nations.

The document published by Mehr stipulates “the release of 24 billion dollars in frozen Iranian assets during the 60-day negotiation period” that begins after the memorandum of understanding is concluded. reports AFP.

“Half of this amount must be made available to Iran before the start of the negotiations,” the text, which has not been officially confirmed, specifies.