THE LAST TIME The United States caved in to a major Iranian claim. It is related to the reopening of Hormuz
A senior Iranian source revealed to Reuters on Saturday that the United States had agreed to unfreeze Iranian assets “seized” in Qatar and other foreign banks, hailing the move as a sign of “seriousness” in reaching a deal with Washington at talks in Islamabad.
The source, who declined to be identified due to the sensitivity of the subject, told the international news agency that the release of the assets is “directly linked to ensuring safe passage through the Strait of Hormuz”, which is expected to be a key issue in the negotiations.
The senior source did not specify the value of the assets that Washington agreed to unfreeze.
A second Iranian source said the United States had agreed to release $6 billion of frozen Iranian funds held in Qatar.
There was no immediate reaction from the United States on the release of the assets. Qatar's foreign ministry did not immediately respond to a request for comment.
Billions “frozen” eight years ago
The $6 billion, originally frozen in 2018, was to be released in 2023 as part of a US-Iran prisoner exchange, but the funds were “frozen” again by President Joe Biden's administration following the October 7, 2023, attacks on Israel by the Iranian-allied Palestinian militant group Hamas.
US officials said at the time that Iran would not be able to access the money for the foreseeable future, stressing that Washington reserved the right to block the account entirely.
The funds come from Iranian oil sales to South Korea and had been locked up in South Korean banks after President Donald Trump reimposed sanctions on Iran in 2018 — during his first term in the White House — and scrapped the deal between world powers and Tehran over its nuclear program.
In the September 2023 US-Iran prisoner exchange brokered by Doha, the money was transferred to bank accounts in Qatar. The prisoner exchange involved the release of five American citizens held in Iran in exchange for the release of funds and five Iranians held in the United States.
U.S. officials said at the time that the money was intended solely for humanitarian purposes, to be paid to approved suppliers of food, medicine, medical equipment and agricultural products shipped to Iran under the supervision of the U.S. Treasury.
