US allows transfer of $6 billion frozen funds to Iran
QAMISHLI, Syria (North Press) – The US allowed the transfer of $6 billion Iranian funds frozen by US sanctions from South Korea to Qatar under the condition of using it for humanitarian purchases only.
This came following a deal that agreed to the release of five US citizens, who the State Department considered unlawfully detained in Iran in exchange for the transfer of the funds and the release of five Iranian citizens detained in the US on charges of violating sanctions.
Secretary of State, Antony Blinken, stressed in the document sent to US congressional committees, “To facilitate their release, the United State has committed to release five Iranian nationals currently detained in the United States and to permit the transfer of approximately $6 billion in Iranian funds held in restricted accounts in the (Republic of Korea) to restricted accounts in Qatar, where the funds will be available only for humanitarian trade.”
The transfer of funds will be of “limited benefit to Iran” as the funds can only be used for humanitarian trade, according to the document.
According to sources familiar with the negotiations the transfer of the funds could take place in the next week.