Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

US says Iran cannot access its $6 billion in Qatar any time soon

Published 12/10/2023, 20:26
Updated 12/10/2023, 20:45
© Reuters. U.S. Secretary of State Antony Blinken speaks during a press conference, in Tel Aviv, Israel October 12, 2023. Jacquelyn Martin/Pool via REUTERS

By Humeyra Pamuk and Daphne Psaledakis

TEL AVIV/WASHINGTON (Reuters) -The United States said on Thursday that Iran would not gain access any time soon to $6 billion in Iranian funds parked in a Qatar bank last month as part of a prisoner exchange and that Washington retained the right to completely freeze the account.

The question of Iranian access to the funds has been in the spotlight since Iran-backed Palestinian Hamas militants attacked Israel on Saturday, killing more than 1,300 people and taking scores of hostages back to the Palestinian Gaza Strip.

"Iran will not be able to access the funds for the foreseeable future," a senior U.S. official, speaking on condition of anonymity, told Reuters.

U.S. Secretary of State Antony Blinken, speaking at a news conference in Tel Aviv, said that Iran had neither accessed nor spent any of the $6 billion, adding: "We have strict oversight of the funds and we retain the right to freeze them."

Blinken said the U.S. Treasury oversees any disbursement to ensure it is used only for humanitarian purposes.

Several U.S. media outlets reported on Thursday that the United States and Qatar had agreed to stop Iran from accessing the money.

Iran has made no secret of its backing for Hamas, funding and arming the group, but Iran's Supreme leader Ayatollah Ali Khamenei said on Tuesday that Tehran was not involved in the Hamas attack on Israel.

Iran's U.N. mission said the U.S. government was "acutely aware that they cannot renege" on the deal reached over the money, which was transferred to Qatar from an account in South Korea to make it accessible for Iranian humanitarian needs.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The Iranian oil revenues had been frozen in Seoul after Washington, under former President Donald Trump, placed a total ban on Iran's oil exports and sanctioned its banks in 2019.

"The money rightfully belongs to the people of Iran, earmarked for the Government of the Islamic Republic of Iran to facilitate the acquisition of all essential and non-sanctioned requisites for the Iranians," said Iran's mission to the United Nations in New York.

It did not respond to a request for comment on whether Iran had yet tried to access the funds.

Qatar's International Media Office did not immediately respond to a request for comment. The U.S. Treasury Department declined to comment.

White House national security spokesman John Kirby declined to speak about diplomatic conversations or "speculate ... about future transactions."

He said the money was intended to be disbursed "to approved vendors - that we approved - to go buy food, medicine and medical equipment, agricultural products, and ship it into Iran directly to the benefit of the Iranian people."

"Every single dime of that money is still sitting in the Qatari bank," Kirby told reporters, adding: "The regime was never going to see a dime of that money."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.