In a significant development, Iran has agreed to release $600 million in frozen assets to the United States. This agreement comes as part of an exchange involving five American citizens who were detained in Tehran. The United States officially confirmed this information on Monday.
The funds, held by Iran, will be transferred to South Korea as per the terms of the agreement. South Korea will serve as an intermediary bank in this transaction.
A spokesperson for the U.S. State Department emphasized the importance of securing the release of the five American citizens, calling it a crucial step. However, the Biden administration has made it clear that the funds will only be allowed for the purchase of essential goods, medicines, and humanitarian items, adhering to the stipulations of the agreement.
This development marks a significant diplomatic breakthrough between Iran and the United States, as tensions have persisted between the two nations for years. The release of frozen assets serves as a positive gesture towards potential future negotiations and improved relations between the two countries.
