News - Middle East: Iran and Bahrain have agreed to release Tehran's assets illegally frozen in Manama within a technical mechanism based on mutual respect.

The deputy governors of the Central Bank of Iran (CBI) and the Central Bank of Bahrain started talks in Manama on Sunday to release the blocked assets, which belong to the CBI and other Iranian banks. The talks will continue until a final result.

They also discussed the main causes of the issue and ways to remove obstacles in the way of releasing the frozen funds.

Both officials said the negotiations between the two central banks should continue in Tehran or Manama in the coming days.

The Islamic Republic of Iran and the Kingdom of Bahrain in an early Monday joint statement agreed to start negotiations on the resumption of political relations between the two countries after a hiatus of more than eight years.

According to the statement, the agreement was reached following a meeting between Iran's acting Foreign Minister Ali Bagheri Kani and his Bahraini counterpart, Abdullatif bin Rashid Al Zayani.

Source: Press TV