Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Reuters: US military carried out a new strike targeting a ship in the Caribbean Sea
Al Mayadeen's correspondent: Israeli raids targeted a cement plant, an asphalt factory, and fuel tanks in the Ansar area in South Lebanon
Al Mayadeen's correspondent: A series of violent Israeli raids targeted the outskirts of the town of Ansar
Al Mayadeen's correspondent: Israeli warplanes raided the outskirts of the town of Shmestar in Bekaa, eastern Lebanon
Donald Trump will speak with Russian leader Vladimir Putin on Thursday: White House
Al Mayadeen's correspondent in South Lebanon: Israeli warplanes raid the town of Bnaafoul, Saida district
YAF: Israeli enemy will pay for this crime.
Yemeni Armed Forces: Son of Major General Al-Ghamari martyred alongside him in Israeli aggression.
Yemeni Armed Forces: YAF mourns martyrdom of Chief of the General Staff Mohammad Abd al-Karim al-Ghamari.
Al Mayadeen's correspondent: Palestinian shot and killed by IOF east of Al-Bureij camp in the central Gaza Strip

Iran says US unfroze $6Bln worth of funds under prisoner swap

  • By Al Mayadeen English
  • Source: Agencies
  • 12 Aug 2023 23:44
2 Min Read

Iran's Central Bank has announces that the US has unfrozen $6 billion in Iranian funds as part of a deal that will eventually see the release of five Americans detained in Iran and an unknown number of Iranians detained in the US.

  • x
  •  The Central Bank of Iran (CBI) (TehranTimes)
    The Central Bank of Iran (CBI). (TehranTimes)

The Governor of the Central Bank of Iran (CBI), Mohammad Reza Farzin, announced on Saturday that the United States has unfrozen $6 billion in Iranian assets as part of their prisoner swap agreement.

"All Iranian foreign-currency assets in South Korea have been unblocked. Soon all of these euro-denominated assets will all be deposited with six Iranian banks in Qatar and used to buy commodities that are not covered by sanctions," the banker was quoted as saying by Iranian news agency YJC. 
 
US National Security Council Coordinator for Strategic Communications, John Kirby, confirmed on Friday that the US would unfreeze $6 billion in Iranian funds as part of a deal that will eventually see the release of five Americans detained in Iran for spying and an unknown number of Iranians detained in the US.

Tehran confirmed on Friday that the process of releasing the funds, which have been unlawfully held in South Korea due to unilateral US sanctions, was in progress.

What's behind S. Korea and the frozen funds?

Related News

US sanctions 115+ Iranian entities aiming to cut oil revenues

White House reportedly pauses new US sanctions on Iran amid talks: WSJ

Iranian officials have over and over again said the South Korean government was obliged to unfreeze the country's funds, stressing that unilateral sanctions from the United States could not justify Seoul's inaction in repaying its debts to Tehran.

Iran and South Korea had previously agreed to use the funds for the latter to purchase humanitarian items from Iran, which was later prevented due to pressure from Washington.

Seoul's illegal compliance with the unilateral sanctions was met with restrictions on imports from South Korea as a retaliatory measure.

Seoul did circumvent the sanctions in early 2022, however, paying $18 million in frozen Iranian funds to pay Tehran's UN dues and restore the country's voting rights.

The US Department of State announced last year that it had issued an exemption to some of Iran's blocked funds in South Korea and Japan, allowing them to import Iranian oil. The waiver, signed by Secretary of State Antony Blinken, allows the "transfer of Iranian funds in restricted accounts to exporters in Japan and the Republic of Korea."

  • US sanctions on Iran
  • United States
  • Iranian Central Bank
  • central bank of Iran
  • South Korea
  • Iran

Most Read

Iran strikes secret Israeli-US bunker under Tel Aviv high-rise

Tel Aviv high-rise struck by Iran hid Site 81, secret US-Israeli base

  • Politics
  • 14 Oct 2025
Palestinian journalist Saleh al-Jaafarawi in an undated image in Gaza, occupied Palestine (Social media)

Gaza Palestinian journalist Saleh al-Jafarawi killed by collaborators

  • Politics
  • 12 Oct 2025
drop site

New report details extensive Israeli arson in Gaza after ceasefire

  • Politics
  • 13 Oct 2025
Illustration of fists breaking shackles, representing the liberation of Palestinian detainees from Israeli prisons. (Illustrated by: AL Mayadeen English/Batoul Chamas)

4 prominent Palestinian detainees to be freed: Who are they?

  • Palestine
  • 13 Oct 2025

Coverage

All
War on Gaza

Read Next

All
The bodies of deceased Palestinians, held by Israel during the war, lie in plastic bags on the floor of Nasser Hospital in Khan Younis, Gaza, following their release, Wednesday, Oct. 15, 2025 (AP)
Politics

'Israel' returns 30 Palestinian bodies; some bear marks of torture

Gaza buried under 70 million tons of war debris as crisis deepens
Politics

Gaza buried under 70 million tons of debris, 20,000 lingering UXOs

Ex-White House adviser Ashley Tellis charged over secret files
Politics

Ex-White House advisor accused of amassing troves of top secret files

An Israeli soldier rests by a mobile artillery unit at a gathering point on the border with the Gaza Strip, in southern “Israel”, Saturday, Oct. 11, 2025. (AP)
Politics

Global arms bans isolate 'Israel', yet its war machine keeps running

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS