(Washington) -- Iran is set to receive the first 550-million-dollar installment of sanctions relief on February 1st. A senior U.S. official says it's part of four-point-two billion dollars in previously blocked overseas funds. The U.S. and five major powers agreed in November to give Iran access to the blocked funds if it promised to curb its nuclear program. Some of the payments are contingent on Iran diluting its stockpile of enriched uranium. The Iranian Foreign Ministry and European Union announced Sunday that a deal putting temporary limits on Iran's nuclear program begins January 20th.