Following the temporary lifting of sanctions on Iranian oil sales, the United States has now agreed to release $12 billion in Iranian assets frozen across various international banks.

The agreement was officially confirmed on Tuesday (June 23) by Iran’s Parliament Speaker and chief negotiator, Mohammad Bagher Ghalibaf, following 18 hours of consecutive marathon high-level talks with the US in Switzerland.

Parliament Speaker Mohammad Bagher Ghalibaf stated that under this special agreement, following successful negotiations with Washington, the blockaded funds would be released.

Additionally, US sanctions imposed on Tehran's crude oil and petrochemicals have been temporarily eased.

The US Department of the Treasury confirmed the decision in a statement, noting that Iran will have legal authorization to freely sell its oil and petrochemical products in the international market until August 1.

The US administration claims this concession was granted after Tehran agreed to provide special inspectors from the International Atomic Energy Agency (IAEA) full access to re-examine and resume work at Iranian nuclear sites.

The South Asian nation of Pakistan and the Middle Eastern nation of Qatar played primary mediating roles in successfully navigating the complex, lengthy bilateral discussions in Switzerland.

Thanks to the relentless diplomatic efforts of diplomats from both countries, Washington and Tehran were able to reach a compromise after 18 hours of intense negotiations.

Meanwhile, US President Donald Trump issued a special statement regarding the utilization of the released funds, claiming that Iran must spend the unblocked money entirely on purchasing various agricultural products manufactured in the United States.

However, the White House's claim was immediately and directly rejected by the Central Bank of Iran.

The Central Bank of Iran clarified in an official statement that Tehran cannot be forced under any circumstances to purchase agricultural products from the United States.

The bank emphasized that Iran will independently make all decisions regarding exactly which sectors and how this massive sum of released money will be spent.
Source: Al Jazeera