The United States has agreed to release Iranian funds that had been frozen in several countries, including Qatar, according to reports. The decision comes ahead of ongoing talks between the two sides in Pakistan and is viewed by Tehran as a positive development in the negotiations.
An unnamed Iranian source stated that the decision to unfreeze the assets is directly linked to ensuring safe maritime navigation in the Strait of Hormuz. It is understood that this issue is expected to feature prominently in the current round of discussions. However, there is no confirmed information yet regarding the exact amount of money the United States has agreed to release.
A second Iranian source has claimed that Washington has agreed to unfreeze approximately USD 6 billion, which was held in Qatari banks. No official confirmation has been issued regarding this figure.
Neither the United States nor Qatar’s Foreign Ministry has provided an immediate response to the reports.
The background of the funds dates back to 2018, when the United States first froze Iranian oil revenues held in South Korean banks following the reimposition of sanctions on Iran. The same period also saw the collapse of Iran’s nuclear agreement with global powers.
In September 2023, a prisoner exchange agreement was brokered through Qatari mediation between Iran and the United States. Under this arrangement, five American detainees were released by Iran, and five Iranian detainees held in the United States were also freed. At the same time, the frozen funds were transferred to accounts in Qatari banks.
At that time, the United States stated that the funds could only be used for humanitarian purposes, including the purchase of food, medicine, medical equipment, and agricultural goods through approved suppliers. The entire process was placed under the supervision of the US Treasury.
Subsequently, US officials had also indicated that Iran would not have unrestricted access to the funds and that Washington retained the authority to keep the assets frozen indefinitely if necessary.
The developments in the current negotiations are therefore being viewed as a significant step forward in diplomatic engagement between the two countries. However, no final decision or official announcement has yet been made regarding the release of the funds.
Timeline of Key Developments
| Period | Event |
|---|---|
| 2018 | US freezes Iranian oil revenues held in South Korean banks following renewed sanctions |
| 2018 onward | Funds remain frozen amid broader breakdown of Iran nuclear agreement framework |
| September 2023 | Qatar mediates prisoner exchange between Iran and the United States |
| September 2023 | Five US detainees released by Iran; five Iranian detainees released by the US |
| September 2023 | Frozen funds transferred to Qatari bank accounts under restricted humanitarian-use conditions |
| Post-2023 | US maintains oversight through Treasury, limiting use to humanitarian imports |
| Current period | Reports emerge that the US has agreed to release the funds; no official confirmation yet |