• Sulaiman Umar
• 13 Sep, 2023
• View 365

TEHRAN - Iranian President Ebrahim Raisi has noted his administration will decide how it will spend $6 billion in previously frozen funds due to be released in a prisoner exchange agreement with the United States.

In an exclusive interview with NBC News aired on Tuesday, Raisi hinted that the Americans detained in Iran will soon be returning home. 

He also told the news channel that the money will be spent “wherever we need it.”

The president said that the prisoner swap agreement between the United States and Iran would be finalized in “due time” and that the American captives were in “very healthy” condition.

Tehran will be permitted access to the nearly $6 billion in Iranian oil profits that were frozen in South Korean banks due to U.S. sanctions. 

However, according to U.S. sources, the assets would be overseen by Qatar’s central bank, and Iran will be allowed to utilize the funds solely for humanitarian purposes in compliance with U.S. sanctions.

A top Biden administration official responded to President Raisi’s comments by saying that Qatar will get the freed funds first. The Treasury Department would then keep strict tabs on every transaction to make sure the funds were only utilized for humanitarian causes.

“It’s going to be held in a bank in Qatar and each transaction will be monitored by U.S. Treasury — transaction by transaction," the official said. "It’s for humanitarian aid only.”  

Raisi stated in the interview that Iran will have “authority” over the use of the funds. According to a translation provided by the Iranian government, he remarked, “This money belongs to the Iranian people, the Iranian government, so the Islamic Republic of Iran will decide what to do with this money.”

When asked if the funds will be used for anything other than humanitarian needs, Raisi said, “Humanitarian means whatever the Iranian people needs, so this money will be budgeted for those needs, and the needs of the Iranian people will be decided and determined by the Iranian government.”

In addition to allowing Tehran access to the $6 billion in blocked oil income, the prisoner swap asks for the release of five American nationals incarcerated in Iran in exchange for the release of five Iranians detained in the United States. 

On Monday, the Biden administration notified Congress that it had taken significant action to facilitate the prisoner swap by approving a waiver that permits foreign banks to transfer the $6 billion to Qatar without fear of impending U.S. penalties.

Culled from Tehran Times