Iran to use $6 billion in frozen assets in Qatar after talks

Iran announced Wednesday that it will utilize a portion of its frozen assets in Qatar to acquire essential goods, following indirect technical discussions held in Doha. The negotiations, involving U.S. and Iranian representatives, focused on their memorandum of understanding. According to Iran's official IRNA news agency, the talks concluded with an agreement allowing Iran access to some of its blocked funds.

"During discussions with Qatari officials, including the Central Bank, several topics related to spending part of the first six billion dollars (of funds) were examined," stated Iran's Deputy Foreign Minister Kazem Gharibabadi, who was present at the negotiations. These six billion dollars refer to revenue from Iranian oil sales, transferred from South Korea to restricted accounts in Qatar since 2023. The agreement also includes establishing a communication channel by Thursday to report and identify potential violations of the memorandum of understanding.

In parallel developments, maritime unions and employers will continue to classify the Strait of Hormuz as a war zone until at least July 9, according to a joint statement released Wednesday. This designation reflects ongoing tensions and security concerns in the vital waterway.

Meanwhile, Israel has continued its strikes in Lebanon in recent days, despite the signing of a framework agreement for "lasting peace" in Washington last Friday. Israeli Defense Minister Israel Katz stated Wednesday that the Israeli military would remain in what it terms "security zones" in Lebanon, Syria, and the Gaza Strip "indefinitely."

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During discussions with Qatari officials, including the Central Bank, several topics related to spending part of the first six billion dollars (of funds) were examined.