(MENAFN) South Korea has paid USD500 million to Iran for crude oil imports under an interim nuclear deal that provides limited relief from sanctions, local media showed, Iran Daily reported.

The interim accord between Iran, the United States, China, France, Germany, Britain and Russia was extended for seven months to allow for more talks to reach a final deal the six powers failed to resolve their 12-year standoff over Tehran's nuclear program.

Tehran will be able to continue to access around USD700 million per month in sanctions relief.

"We had to play our role, as the international community agreed to unblock some of Iran's assets," said one of the sources, who had direct knowledge of the money transfer.