The US has released some $8 billion of Iran’s frozen assets, former head of Iran’s Chamber of Commerce Alinaqi Khamoushi announced Sunday.

“The agreement will open a new path towards Iran,” Khamoushi told Iran’s national news agency (IRNA).

Resolving Iran’s nuclear dispute with the West would “gradually help promote Iran’s trade relations with the European states and even with the US.”

“If the confidence-building measures properly progress by both sides, then it would also help promote Iran’s ties with the US,” he added.