The United States, in coordination with Qatar, is developing a proposal that would enable Iran to access $6 billion in frozen assets for humanitarian purchases, according to the Wall Street Journal, citing informed sources.
Under the plan, Tehran would be permitted to use funds held in Qatar to buy food, medicine, and other humanitarian goods through Iran’s central bank.
The agreement has not yet been finalized and still requires Iran’s approval, the publication reports.
These funds are part of approximately $100 billion in Iranian assets frozen worldwide—most of which come from oil revenues restricted by international sanctions.
The initiative is being discussed following the signing of a memorandum of understanding between Washington and Tehran this week, which calls for a cessation of hostilities and the resumption of shipping through the Strait of Hormuz.
Iran is pushing for the release of at least $24 billion in frozen funds as quickly as possible, the newspaper notes.
As part of the memorandum, the United States has committed to granting access to frozen Iranian assets and to negotiating a mechanism for their use.
A U.S. official cited by the Wall Street Journal stated that access to the assets would depend on Iran’s willingness to remain engaged in negotiations.
The proposed mechanism will be separate from the revenue Iran expects to generate from oil exports after Washington agreed to allow the resumption of oil sales under the deal.
The funds currently held in Qatar were transferred there in 2023 after the Biden administration granted sanctions relief as part of a prisoner exchange agreement between Washington and Tehran.
This money came from Iranian oil sales to South Korea and was intended for humanitarian purchases.
The funds were subsequently frozen following the Hamas attack on Israel in October 2023.
According to available information, discussions about potentially unfreezing the assets began in late May during talks between Qatari and Iranian officials.
The publication notes that this proposal is likely to be one of several issues addressed in negotiations between Washington and Tehran over the next two months, aiming to reach a broader agreement.
President Donald Trump stated this week that Iran would be able to access its frozen assets provided it complies with the terms of the memorandum and participates constructively in negotiations.
About the Author
