US Government Grants Waivers to Release $6 Billion in Frozen Iranian Assets for Prisoner Swap
The United States government has issued waivers allowing foreign banks to release approximately $6 billion in frozen Iranian assets as part of a proposed prisoner exchange arrangement. This initiative aims to secure the release of several Iranians detained in the United States in exchange for American citizens held in the Islamic Republic.
Secretary of State Antony Blinken granted the necessary approvals for these waivers last week, as reported by the Associated Press and other outlets on Monday. The State Department issued a congressional notification, in which Blinken emphasized that waiving sanctions was “in the national security interest of the United States.”
The notice stated, “The United States has committed to release five Iranian nationals currently detained in the United States and to permit the transfer of approximately $6 billion in Iranian funds held in restricted accounts in the Republic of Korea (ROK) to restricted accounts in Qatar, where the funds will be available only for humanitarian trade.”
US officials have indicated that the release of these assets would be conditional. National Security Council (NSC) spokesman John Kirby explained last month that the funds would only be accessible for “food, medicine, [and] medical equipment that would not have a dual military use.” He also mentioned the implementation of a rigorous process to ensure compliance.
The White House has confirmed the detention of five Americans in Iran, all of whom are currently under house arrest, with four recently released from Tehran’s Evin Prison. Among the detainees, three have been identified as Siamak Namazi, Morad Tahbaz, and Emad Shargi, while the others have chosen to remain anonymous.
Sources familiar with the negotiations have suggested that the detainees could be released as early as next week, according to the Associated Press. Adrienne Watson, an NSC official, emphasized that the talks are ongoing and sensitive but clarified that “no individuals have been or will be released into US custody this week.”
Iran has consistently called for an end to US economic sanctions, which were significantly escalated under the previous administration of President Donald Trump. Although efforts to revive the 2015 nuclear deal between Iran, the US, and other world powers have faced challenges, the US has expressed its willingness to welcome any steps taken by Iran to reduce its nuclear program.
This emerging prisoner exchange agreement comes against the backdrop of heightened tensions in the Persian Gulf. In recent weeks, the United States has deployed military assets to the region, including F-35 fighter jets, a guided-missile destroyer, and other warships. In addition, 3,000 American marines and sailors were stationed in the area last month, with the US Navy citing Iranian actions such as “harassment and seizures of merchant vessels” as the reason for this increased military presence.
