US to Release $12 Billion in Frozen Iranian Assets

The United States has agreed to release $12 billion in frozen Iranian assets held abroad, according to Iran's Parliament Speaker and chief negotiator, Mohammad Bagher Ghalibaf.

Ghalibaf stated that the agreement was reached following extensive negotiations with the US in Switzerland. Alongside the asset release, certain sanctions on Iran's oil and petrochemical exports have also been temporarily eased.

The US Department of the Treasury announced that Iran has been permitted to sell oil and petrochemical products until August 1. Washington maintains that this decision was made after Iran agreed to allow inspectors from the International Atomic Energy Agency (IAEA) to resume their work.

The breakthrough was achieved following 18 hours of continuous, marathon talks, with Qatar and Pakistan serving as mediators.

Meanwhile, US President Donald Trump stated that the released funds would be utilized to purchase American agricultural products. However, the Central Bank of Iran has rejected this claim.

The central bank asserted that Iran cannot be compelled to buy agricultural goods from the US, emphasizing that Iran will independently decide how the funds are spent.
Source: Al Jazeera