US unfreezes Iranian money in exchange for prisoners

The US has given permission for banks to move $6bn of Iranian money that was blocked in South Korea to Qatar. This is important because it will allow five Americans who are being held by Iran to be released.

Secretary of State Antony Blinken informed Congress that the money would only help Iran to some extent since it could solely be utilized for trade related to humanitarian aid.

He also said that five Iranians who were being held in the US will be released as part of the agreement to exchange prisoners.

Republicans disapproved of the transfer.

A senator said that President Joe Biden paid a large sum of money to a country that supports terrorism.

Recently, US officials reported that four people who are both American and Iranian citizens were removed from Evin prison in Tehran and placed under house arrest.

A lawyer identified three prisoners as Siamak Namazi, Emad Shargi, and Morad Tahbaz. Morad Tahbaz is also a citizen of Britain. The fourth person was not recognized, and the fifth person was also not recognized because they were already being kept at home by authorities.

Who are the people with citizenship in two countries that are currently imprisoned in Iran.

It is thought that since 2018, many many billions of dollars that Iran is owed for its oil and other exports have been put on hold in bank accounts worldwide. This happened when former President Donald Trump decided to stop following an agreement regarding Iran’s nuclear program and put sanctions back in place.

The US has given permission for some banks in Europe, Asia, and the Middle East to move $6 billion from South Korea to Qatar’s central bank without facing any punishment.

MrBlinken said in a letter to Congress on Monday that it is important to move money from limited Iranian accounts in South Korea to accounts in Qatar for humanitarian trade. This is necessary for the release of US citizens.

Last month, he said that Qatar had promised to make sure the money given to Iran would only be used for helping people and would be carefully monitored and regulated. He also mentioned that Iran would not be able to directly access the funds, and the US would closely monitor the situation.

The Republican leader of the House Foreign Affairs Committee criticized the Biden administration for going ahead with what he referred to as a “hostage deal” worth $6 billion, despite their promises.

Rep Michael McCaul said that the Americans being held in Iran are innocent and they should be released right away without any conditions.

I am worried about the government’s choice to not punish Iran and let them have $6 billion. Iran is a country that supports terrorism. This decision could encourage other countries that don’t like America to take more people hostage in the future.

Adrienne Watson, a spokesperson for the White House, said that the waiver was just a normal part of a sensitive and ongoing process.

Nasser Kanani, a spokesperson for the Iranian foreign ministry, said he was hopeful that the prisoner exchange would happen very soon.