Iran's Frozen Assets 'Unfrozen' After US Deal; Billions Available

Iran is poised to regain access to billions of dollars in frozen assets following a reported agreement with the United States, a move that could significantly boost the nation's struggling economy. For years, Iran has insisted on the release of these funds, which have been a major sticking point in negotiations.

The eleventh point of the reported agreement states that the U.S. commits to making "frozen or restricted capital" fully available once a Memorandum of Understanding is signed. The specifics of these procedures are to be determined during ongoing negotiations.

An unnamed U.S. official indicated that certain assets would be unfrozen, with further releases contingent on Iran's compliance with aspects of the deal, such as managing its uranium enrichment program. Iranian media and analysts estimate the total value of frozen assets to be between $124 billion and $167 billion, representing roughly a quarter of Iran's pre-war annual economic output.

While the exact timeline and scope remain unclear, the agreement could provide Iran's central bank with full access to these funds. Gregory Brew, a senior analyst specializing in Iran, noted that approximately $12 billion currently held in Qatar could be among the first assets made accessible. However, a U.S. official previously told CNNi that no funds would be released without Iran fulfilling its commitments.