Iranian President Masoud Pezeshkian announced the release of $6 billion in frozen funds held in Qatar as part of a recent ceasefire agreement that also lifted oil and petrochemical sanctions.
5:41 AM
Iran's President Masoud Pezeshkian announced Monday that $6 billion of the country's frozen assets will be released and returned through Qatar under a recent ceasefire agreement. Speaking during a visit to Qom, where he met Grand Ayatollah Shobeiri Zanjani, Pezeshkian said the funds represent part of a total of $12 billion in Iranian assets held in Qatar.
The Iranian president confirmed that oil and petrochemical sanctions have been lifted under the peace deal. He described the agreement as a "great victory" for the Iranian people and said follow-up work is continuing for the return of the remaining $6 billion portion of the frozen funds.
The release of the funds and sanctions relief were part of the framework agreed at talks held in Switzerland and through the Islamabad Memorandum of Understanding. On June 20, The Wall Street Journal reported that the United States, together with Qatar, was working on a mechanism that would allow Iran to use part of its frozen assets to purchase humanitarian goods, with Tehran initially gaining access to the $6 billion held in Qatar.
Pezeshkian said on June 30 that Iran will uphold its commitments under the memorandum of understanding only if the United States does the same. "Understanding is a two-way matter. If the American side adheres to the memorandum of understanding, we too will fulfil our commitments," he wrote on social media. He stressed that Tehran's approach is rational but its defence will be resolute when required.
The announcement comes amid ongoing tensions. Iran launched drone and missile attacks Sunday targeting Bahrain and Kuwait in response to new U.S. airstrikes against the Islamic Republic, and threatened a "complete halt" in negotiations to end the war if Washington continues its attacks. The ceasefire agreement follows a conflict that began with U.S. and Israeli actions and resulted in the death of Iran's Supreme Leader Ayatollah Khamenei some four months ago.
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