New Delhi: Iran’s top negotiator, Mohammad Bagher Ghalibaf, has said that Tehran and Washington have reached an agreement for the release of $12 billion in Iranian funds frozen abroad. The announcement comes shortly after the United States said it would temporarily relax sanctions to allow the sale of Iranian oil and petrochemical products until August 21, a move widely seen as a confidence-building measure amid ongoing negotiations. Iran has also said that technical talks with the US held in Switzerland have concluded successfully, with the next phase of discussions set to be taken up by a High-Level Committee.Follow live updates here. Note that the blog may take a few moments to load.