Frozen No More? US, Qatar Weigh Release of $6 Billion Frozen Iranian Funds After Deal

Washington: The United States is eyeing working with Qatar so as to chart a plan for releasing billions of dollars in frozen funds aimed at humanitarian spending in Iran, as reported by US media on Friday, citing people familiar with the matter.

According to the American news outlet, yet another early financial incentive comes as a part of the recently inked peace pact between Tehran and Washington, according to people familiar with the matter.

While the plan is not complete yet, US media reported that it is aimed at giving Iran access to spend and utilise some of its estimated USD 100 billion in cash frozen worldwide–with the first access being to the USD 6 billion held in Qatar.

Under the deal, it was informed that Qatar would purchase humanitarian goods such as food and medicines ordered by Iran’s central bank by utilising the money drawn from Tehran’s frozen assets that includes cash from oil sales that have been locked up overseas by sanctions.

This comes as Qatar has reiterated its support for launching negotiations between the United States and Iran to address outstanding issues through dialogue and peaceful means as the first round of technical talks, scheduled to take place in Switzerland, got cancelled following the signing of the memorandum of understanding (MoU) between the two sides in order to end the hostilities in West Asia.

According to a statement issued by Qatar’s Ministry of Foreign Affairs, this came during the discussion between Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani and Swiss Foreign Minister Ignazio Cassis that took place at Burgenstock Resort in Switzerland on Friday.

On Thursday, the Swiss Foreign Ministry confirmed that the planned talks between the US and Iran have been postponed.

Responding to an email from ANI, the Swiss Foreign Ministry said it remains ready to facilitate the talks.

“The planned talks between the US, Iran, Qatar and Pakistan have been postponed. Switzerland remains ready to facilitate these talks. The relevant preparatory work at Burgenstock is continuing. No further information can be provided at present,” it said.

The 14-point MoU between the US and Iran includes an immediate and permanent cessation of military operations, including in Lebanon, and a pledge to conclude negotiations on a final deal within 60 days, extendable by mutual consent.

Under the memorandum, the US will begin removing its naval blockade and related restrictions, while Iran will facilitate the safe passage of commercial vessels through the Stait of Hormuz free of charge for an initial 60-day period, during which technical talks will also take place on Iran’s nuclear programme.

The document also outlines plans for the phased lifting of sanctions, the release of frozen Iranian assets, US Treasury waivers for Iranian oil exports, and a US-backed reconstruction and economic development programme for Iran.

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