The United States has agreed to release $12 billion in Tehran’s assets frozen abroad after temporarily lifting sanctions on Iran’s oil sales, Iranian Parliament Speaker Mohammad Bagher Ghalibaf told the country’s media on Monday local time.
Meanwhile, Iran said that four working groups have been formed to continue the peace talks between Iran and the United States that started in Switzerland. And US President Donald Trump said that the US blockade on the Strait of Hormuz and Iranian ports has been lifted. However, if Iran does not comply with the agreement, whatever is necessary will be done.
Israel continues to attack Lebanon despite US pressure. The Lebanese Health Ministry said on Tuesday evening that 17 more people have been killed in Israeli attacks in the past 24 hours. Even before signing the memorandum of understanding with the United States, Iran has been saying that attacks on all fronts, including Lebanon, must stop. The memorandum of understanding also mentions this issue.
* The money will be released in two phases of $6 billion.
* Four working groups will be formed to continue peace talks.
US-Iran peace talks began in Switzerland on Sunday. The Iranian delegation was led by Parliament Speaker Bagher Ghalibaf on the first day of talks. He told the country’s media on Monday that the US has agreed to release a total of $12 billion of Iranian assets frozen in various countries. Washington will release the money in two installments of $6 billion each.
According to information provided by Ghalibaf, the decision is expected to take effect for 60 days from Monday. On this day, the United States announced the lifting of sanctions on Iranian oil sales for 60 days.
Citing multiple sources familiar with the US-Iran talks, Al Jazeera said that the issue of Iran’s asset freeze has been finalized. An agreement on this could be signed in Switzerland.
The sources also told Al Jazeera that, according to the 14-point initial agreement signed on June 17, another $1.2 billion could be released during the 60-day talks. And if the two sides agree to a final deal, Iran could receive a total of $50 billion in relief, including the lifting of sanctions and frozen funds.
The initial agreement, which saw the normalization of shipping through the Strait of Hormuz and the subsequent lifting of sanctions on Iranian oil sales and the release of seized Iranian assets, was seen as a win for both sides, said Henry Ensher, a former US deputy assistant secretary of state. He told Al Jazeera that these events show that both sides are getting what they want.
Conflicting statements on the use of funds
The United States has also confirmed the release of Iran’s frozen funds. However, the two sides are giving conflicting statements about how the funds will be released and how they will be used.
US President Donald Trump has said that the seized funds can only be used to buy food products from the United States. He said, “With this money, they can only buy food products from the United States, which they really need right now. That means their money will go to our farmers.”
However, Abdolnaser Hemmati, the governor of the Central Bank of Iran, said that according to the agreement, there is no obligation to buy goods from the United States with this money. The agreement has agreed to buy daily necessities and medicines with the first $6 billion. And if goods are available from the United States at a cheaper price compared to other countries, then Iran will consider the matter.
Trump threatens again
Trump has again warned Tehran about the memorandum of understanding signed on June 17, brokered by Pakistan and Qatar. In a post on Truth Social on Tuesday, he said, “If Iran does not comply with the agreement or if they do not behave properly, we will do what is necessary. As long as they (Iran) respect us, we will not let there be any problems.”
Iranian President Masoud Pezeshkian has called for avoiding indiscriminate comments on the agreed-upon issues. In a statement issued yesterday after Trump’s threat, he said that the progress of the talks depends on how effective the agreed-upon issues are. Any comments outside the agreed-upon document will not help advance the talks.
Technical discussions are underway now.
High-level delegations from the United States and Iran met in Switzerland on Sunday, mediated by Pakistan and Qatar. The US side was led by Vice President J.D. Vance. The Iranian delegation, led by Ghalibaf, was led by Foreign Minister Abbas Araghchi.
Following this high-level meeting, some ‘working committees’ have been formed to discuss technical issues. Discussions are now underway between these technical groups with mediators in Switzerland.
Iran’s Deputy Foreign Minister Kazem Garibabadi is leading the technical talks on behalf of the country. He said yesterday that four working groups have been formed on sanctions, nuclear program, financial issues and memorandums of understanding. A high-level meeting will be held soon.
Princeton University Middle East expert Seyed Hossein Mousavi said there is optimism about a deal as high-level direct talks between Washington and Tehran are underway in Switzerland. He said it is a golden opportunity to agree on many issues.
