US, Qatar plan to unfreeze billions in Iranian funds for humanitarian goods - report

The United States and Qatar are reportedly working on a plan to unfreeze billions of dollars in Iranian funds, specifically for the purchase of humanitarian goods. The Wall Street Journal, citing sources familiar with the matter, reported that the deal would allow Iran to access $6 billion currently held in Qatar. These funds are earmarked for essential items like food and medicine, to be purchased by Iran's central bank using cash from oil sales frozen overseas by sanctions.

This arrangement builds upon a 2023 US waiver that permitted $6 billion in Iranian oil revenue to be transferred from South Korea to Qatar for humanitarian use. However, those funds were frozen following the October 7th events. The current plan, if realized, could establish a precedent for the future release of additional Iranian funds, including a larger pool of $24 billion that Tehran seeks to access.

While Iran has not yet formally agreed to this framework, it is slated for discussion in future talks between the US and Iran. A US official indicated that the funds would remain available as long as Iran engages in negotiations. Former US President Donald Trump commented on the situation, stating, "We have taken their money; it isn’t our money, it is their money, and we froze it. At a certain point in time, I guess we’re going to have to give it back."

Negotiations regarding funds frozen in Qatar, among other countries like China, India, and Iraq, reportedly began in late May. Iran's parliamentary speaker, Mohammad Bagher Ghalibaf, led a delegation to Doha to discuss these plans.

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We have taken their money; it isn’t our money, it is their money, and we froze it. At a certain point in time, I guess we’re going to have to give it back.