US-Iran tensions calming down? Tehran to get back frozen assets worth billions after prisoner swap
Iran's and U.S.' flags are seen printed on paper in this illustration
The US will release $6 billion in frozen Iranian funds and has indicated that it would release five Iranian prisoners from American jails. The development came on September 11 when the Biden administration formally notified Congress on the matter, in what was seen as a major sign of plummeting tensions between Washington and Tehran.
Earlier, Tehran moved five US citizens from the country's Evin prison to house arrest. This exact step in particular has been interpreted in the Western media as the beginning of an arrangement that Washington expects to eventually configure into formal talks towards Iran's nuclear programme.
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These five Americans in Iran may return to the US this month, contingent upon Washington's release of $6 billion in frozen Iranian oil revenue from South Korea, the Financial Times reported.
The announcement on Monday officially confirmed that the deal includes the release of five Iranian prisoners. The identities of these prisoners have not been disclosed as yet.
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A US State Department official stated, "The US has agreed to permit the transfer of funds from South Korea to restricted accounts in financial institutions in Qatar and the release of five Iranian nationals currently detained in the United States to facilitate the release of five US citizens detained in Iran."
US Secretary of State Antony Blinken signed a waiver last week enabling the transfer of funds from South Korea, with a caution that the funds should be used solely for humanitarian purposes.
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US National Security Council spokeswoman Adrienne Watson said that this step is part of an effort to secure the release of five unjustly held Americans, and the process remains sensitive and ongoing.
Since former US President Trump's withdrawal from the 2015 nuclear deal in 2018, Iran has been unable to access a substantial portion of its oil funds held by foreign central banks.
But the efforts to address Iran's nuclear programme have gained momentum in recent months.
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