A senior Iranian source announced on Saturday that the United States had agreed to release Iranian frozen assets held in Qatari and other foreign banks, a claim swiftly denied by a U.S. official. The purported agreement, involving an estimated $6 billion, emerged amidst ongoing talks in Islamabad. This development, if true, marks a significant point in the complex financial and diplomatic relationship between the two nations, which remains fraught with tension over various geopolitical issues.
The unnamed senior Iranian source welcomed the alleged U.S. move as a signal of “seriousness” in reaching a deal with Washington. They indicated that the unfreezing of assets was one of Tehran’s key demands, conveyed in messages to the U.S. side. The source further asserted that the release of funds was “directly linked to ensuring safe passage through the Strait of Hormuz,” a crucial waterway expected to be a central topic in the discussions. A second Iranian source corroborated the figure, specifying the $6 billion held by Qatar.
These funds, originally frozen in 2018 following President Donald Trump’s re-imposition of sanctions on Iran’s oil sales to South Korea, have a convoluted history. They were initially slated for release in September 2023 as part of a U.S.-Iranian prisoner swap, which saw five U.S. citizens released in exchange for the funds and five Iranians. The money was then transferred to Qatari bank accounts. However, the administration of President Joe Biden subsequently re-froze the funds after the October 7, 2023 attacks on Israel by Hamas. U.S. officials had previously stipulated that the money was solely for humanitarian use, subject to U.S. Treasury oversight. Qatar’s Foreign Ministry has yet to comment on the matter.
