Iran to use frozen funds in Qatar for essential goods after US-Iran deal
Iranian Deputy Foreign Minister Kazem Gharibabadi announced on Wednesday that Tehran will use a portion of its frozen assets in Qatar to purchase goods required by the country, following talks in Doha.
The announcement comes under a memorandum of understanding that ended the war between Iran and the United States. Washington agreed to make available Iran's frozen or restricted assets as part of the implementation of the agreement.
The exact mechanism for releasing and using the funds, as well as the timeline, remains unclear.
"During the meetings with Qatari officials, including the Central Bank, a number of issues related to the expenditure of part of the initial six billion dollars were reviewed," Mr. Gharibabadi said, according to the IRNA state news agency. "It was agreed that, based on the needs communicated by our country, the required goods would be purchased and made available to Iran."
The amount referred to is part of Iranian oil revenues that were transferred from South Korea to restricted accounts in Qatar since 2023.
Last month, Iranian Foreign Ministry spokesperson Esmaeil Baqaei stated that Tehran alone would decide how to use the released assets, "in whatever way is most beneficial and favourable to the country." He added that the funds would "be available for Iran to freely use as it sees fit to supply the goods that the country needs."
U.S. Vice President JD Vance said in June that the assets had not yet been unfrozen, but if they were, the U.S. and Qatar "have approval over that process." He also suggested the money would be used to purchase U.S. goods, including agricultural products such as soybeans.
Iran's chief negotiator Mohammad Bagher Ghalibaf rejected that characterization on Tuesday, stating that $12 billion of the country's $24 billion in frozen assets "are to be given" to Iran's Central Bank "so that it can purchase any goods it needs, at any price and in any currency worldwide."
