A senior Iranian official stated on Saturday that the United States had consented to unfreeze Iranian assets held in Qatar and other foreign banks. However, a U.S. official promptly refuted this claim. The Iranian source described the alleged U.S. concession as a demonstration of Washington’s seriousness in advancing negotiations during the Islamabad discussions.
The source, who remained anonymous due to the sensitivity of the issue, indicated that the unfreezing of these funds was among Iran’s key demands communicated to the U.S. side. It was also directly connected to ensuring secure navigation through the Strait of Hormuz, a critical topic expected to feature prominently in the talks. No specific amount was provided by this source regarding the funds to be released.
Another Iranian official specified that the United States had agreed to release $6 billion of frozen Iranian assets held in Qatar. Qatar’s Foreign Ministry had not issued any immediate comment on the matter.
These funds, originally frozen in 2018, were slated for release in 2023 as part of a U.S.-Iran prisoner exchange. However, the Biden administration re-froze the assets following the October 7, 2023, retaliatory attacks on Israel by Hamas, an ally of Iran. At that time, U.S. officials emphasized that Iran would not access the money for the foreseeable future and maintained the authority to keep the account frozen.
The $6 billion originated from Iranian oil sales to South Korea and had been blocked in South Korean banks after former President Donald Trump reinstated sanctions on Iran in 2018. This move also involved withdrawing from the multinational nuclear agreement with Tehran. Under the prisoner swap mediated by Doha in September 2023, the funds were transferred to Qatari bank accounts.
The exchange saw five U.S. citizens detained in Iran released in return for the funds and the release of five Iranians held in the United States. U.S. officials clarified that the money was restricted strictly for humanitarian purposes, to be used for approved vendors supplying food, medicine, medical equipment, and agricultural products to Iran under the supervision of the U.S. Treasury.
