Billions of Dollars in Iranian Frozen Assets Released: Presidential Aide

Several billion dollars of Iranian assets have been transferred to an Iranian account in a Persian Gulf country under the recent peace memorandum signed between Tehran and Washington, a senior aide to President Masoud Pezeshkian announced on Tuesday. Mohammad Jafar Qaempanah, Pezeshkian’s executive deputy, told reporters the transfer had taken place but did not specify the exact amount, when the money was credited or which country had carried out the transaction, ILNA reported. Qaempanah’s remarks were the first official confirmation that asset transfers have begun under the agreement brokered by Pakistan and signed on June 18, ending the 40-day war launched by the United States and Israel against Iran in late February.

Earlier on Tuesday, however, Qatar’s Foreign Ministry spokesman Majed al-Ansari revealed that his country was set to do the transfer of US$6 billion in frozen Iranian funds but noted that the Arab nation had yet to make the money available for Iran. On Monday, Pezeshkian said US$6 billion of the US$12 billion in Iranian assets blocked in Qatar would be released and returned to Iran under the agreement, adding that efforts to recover the remaining funds were continuing.

Qaempanah said Iran expected as much as US$25 billion in frozen overseas assets to be released gradually under the memorandum. He said the government planned to channel the funds into infrastructure projects, including transport corridors, roads and airports, arguing that easing financial restrictions would help reduce economic pressures and support long-term development.

Iran and the United States, together with mediators from Pakistan and Qatar, held their first round of talks in Switzerland on June 21 as part of a 60-day diplomatic process aimed at resolving their bones of contention following the digital signing of the 14-point peace memo by Pezeshkian and US President Donald Trump on June 18. Under the interim agreement, Washington committed during the negotiation period to end the war on all fronts, including Lebanon, suspend oil and petrochemical sanctions, release Iran’s frozen assets and lift a naval blockade imposed on Iranian ports and vessels in mid-April. The financial provisions remain among the most closely watched elements of the memorandum. Trump has said the initial sanctions relief is intended to finance purchases of US agricultural products rather than provide Tehran with unrestricted cash. Iranian officials have rejected that interpretation, insisting the assets belong to Iran and will be used in line with the country’s domestic priorities. - Iran Daily