Siamak Namazi.
Siamak Namazi.
Siamak Namazi.
Siamak Namazi.

Iran extends prison release of US citizen Siamak Namazi


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Iran has extended the release of US citizen Siamak Namazi by three days, his brother said on Saturday.

Mr Namazi, a 51-year-old Iranian-American, is the longest-serving of the four Iranian-Americans held in Tehran.

He was detained in October 2015 with his father Baquer Namazi, a former Unicef official, under convictions for espionage.

Both deny the allegations.

Siamak Namazi is still barred from travelling and could be returned to custody at any time.

He was granted release from prison after his father, who was serving his sentence under house arrest, was allowed to travel to Abu Dhabi for medical treatment.

Siamak's brother, Babak Namazi, said in a statement on Saturday that Iranian authorities had granted his sibling a further three-day furlough and that he hoped a longer extension would follow, AFP reported.

“We hope and pray that he will be granted his full freedom soon so that our family can finally be made whole again,” he said.

He added that his father, counter to the recommendations of his Iranian physicians, would not undergo surgery for now to clear a life-threatening blockage in his left carotid artery.

Mr Baquer Namazi, who checked into the Cleveland Clinic in Abu Dhabi on Wednesday, was expected to undergo a carotid endarterectomy to clear out a severe blockage to his left internal carotid artery to reduce the risk of a stroke.

Instead he will receive alternative treatments recommended by the Abu Dhabi medical team.

His release comes as Iran faces new sanctions for cracking down on major protests triggered by the death in custody of Mahsa Amini, a young woman accused of violating rules on covering her hair.

Neda Shargi, the sister of Emad Shargi who is also held on espionage charges in Iran and was sentenced to 10 years in prison, welcomed the news of Mr Namazi’s extended release.

While you're here
What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

Updated: October 09, 2022, 8:20 AM`