The West Asia conflict is approaching its sixth month with no clear diplomatic or military exit in sight as US President Donald Trump dramatically escalates pressure on Iran. Trump has announced what he described as an unprecedented economic warfare and isolation campaign against Iran, warning that countries continuing to do business with Tehran could face “tremendous punishment.”

The latest escalation comes amid a growing dispute over the Strait of Hormuz, one of the world’s most important energy routes. Trump says the waterway remains open and that numerous vessels are passing through, while Iranian officials maintain that the strait remains closed until Washington meets Tehran’s conditions.

Iran has demanded an end to the blockade of its ports, the lifting of oil sanctions and the release of frozen Iranian assets. Meanwhile, US-Iran negotiations remain uncertain, with Trump saying talks could resume at some point but reiterating that Iran must not be allowed to possess nuclear weapons.


Trump Launches “Economic Warfare” Against Iran As Strait Of Hormuz Crisis Deepens

Iranian media on Tuesday (May 26) reported that Tehran’s negotiators were seeking the release of about $24 billion in frozen assets held abroad as part of ongoing efforts to end the war with the United States. This comes as the top Iranian delegation was in Qatar to hold talks over key issues, including the release of funds. Tehran earlier said that it was finalising a 14-point framework for a deal on ending the conflict. Despite the ongoing talks, tensions between the two countries renewed after the US military struck Iranian missile launch sites and boats near the Strait of Hormuz, saying that they acted in “self-defence”. The move drew sharp condemnation from Tehran, which accused the US of ceasefire violation and warned of retaliation.Tasnim news agency reported, citing a source close to the negotiating team, “Iran’s frozen assets are to be released during the course of the negotiations, and this amount is estimated at $24 billion in accordance with the 14-point memorandum of understanding.”It added that around half of that sum “should be made available at the start of the announcement of the memorandum.”The report came as a senior Iranian delegation arrived in Qatar for high-level talks. Parliament Speaker Mohammad Bagher Ghalibaf, Foreign Minister Abbas Araghchi, and Central Bank Governor Abdolnaser Hemmati travelled to Doha on Monday (May 25) to discuss key aspects of the negotiations, including the phased release of frozen Iranian funds.According to Tasnim, Ghalibaf’s visit to Qatar was “aimed at reaching an understanding on the implementation of Iran’s demand and the method of accessing $12 billion in the first phase,” among other issues.While there is no official figure for the amount of Tehran’s frozen assets abroad, Iranian media reports have estimated the total between $100 billion and $123 billion.The issue of frozen Iranian funds has remained a major point of friction between Tehran and Washington for years. In 2023, around $6 billion in Iranian assets held in South Korean banks was transferred to Qatar as part of a prisoner exchange deal involving five American citizens detained in Iran. However, the funds were never released after relations sharply deteriorated following Hamas’s October 7, 2023, attack on Israel, which triggered the Gaza war and intensified regional tensions.Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

Iran is seeking the release of $24 billion in frozen assets as part of talks with the US in Qatar. Meanwhile, tensions rise after recent American strikes near the Strait of Hormuz.

Iranian media on Tuesday (May 26) reported that Tehran’s negotiators were seeking the release of about $24 billion in frozen assets held abroad as part of ongoing efforts to end the war with the United States. This comes as the top Iranian delegation was in Qatar to hold talks over key issues, including the release of funds. Tehran earlier said that it was finalising a 14-point framework for a deal on ending the conflict. Despite the ongoing talks, tensions between the two countries renewed after the US military struck Iranian missile launch sites and boats near the Strait of Hormuz, saying that they acted in “self-defence”. The move drew sharp condemnation from Tehran, which accused the US of ceasefire violation and warned of retaliation. Tasnim news agency reported, citing a source close to the negotiating team, “Iran’s frozen assets are to be released during the course of the negotiations, and this amount is estimated at $24 billion in accordance with the 14-point memorandum of understanding.” It added that around half of that sum “should be made available at the start of the announcement of the memorandum.” The report came as a senior Iranian delegation arrived in Qatar for high-level talks. Parliament Speaker Mohammad Bagher Ghalibaf, Foreign Minister Abbas Araghchi, and Central Bank Governor Abdolnaser Hemmati travelled to Doha on Monday (May 25) to discuss key aspects of the negotiations, including the phased release of frozen Iranian funds. According to Tasnim, Ghalibaf’s visit to Qatar was “aimed at reaching an understanding on the implementation of Iran’s demand and the method of accessing $12 billion in the first phase,” among other issues. While there is no official figure for the amount of Tehran’s frozen assets abroad, Iranian media reports have estimated the total between $100 billion and $123 billion. The issue of frozen Iranian funds has remained a major point of friction between Tehran and Washington for years. In 2023, around $6 billion in Iranian assets held in South Korean banks was transferred to Qatar as part of a prisoner exchange deal involving five American citizens detained in Iran. However, the funds were never released after relations sharply deteriorated following Hamas’s October 7, 2023, attack on Israel, which triggered the Gaza war and intensified regional tensions. Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

Iran is seeking the release of $24 billion in frozen assets as part of talks with the US in Qatar. Meanwhile, tensions rise after recent American strikes near the Strait of Hormuz.

Iran seeking release of $24 billion frozen assets in US deal? What we know

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Trump Launches “Economic Warfare” Against Iran As Strait Of Hormuz Crisis Deepens

Iran seeking release of $24 billion frozen assets in US deal? What we know