Iran says to use frozen funds in Qatar to buy ‘required goods’

Lead

Iran's Deputy Foreign Minister Kazem Gharibabadi said on Wednesday that Tehran would use some of its frozen assets in Qatar to purchase goods needed by the country, following talks in Doha. The announcement comes under the memorandum of understanding that halted the war between Iran and the United States, which the Islamic Republic says it is now implementing.

Coverage Comparison

The Jerusalem Post, citing people familiar with the matter, reported that the US and Qatar are working to make billions of dollars in frozen funds available to Iran for humanitarian spending, with an initial $6 billion currently held in Qatar to be used for purchases of food, medicine, and other humanitarian goods. The Hindu — World reported that the agreement, as part of the memorandum, includes the availability of frozen assets for Iran, and cited Iranian Deputy Foreign Minister Kazem Gharibabadi's statement on using those assets.

Both outlets frame the issue with the term "frozen" to describe the funds, and both attribute the restriction to US sanctions. The Hindu also noted comments from US Vice President JD Vance, who said the assets had not yet been unfrozen but that if they were, the US and Qatar would have approval over the process.

Key Claims

• Iran to use frozen assets for goods: Iranian Deputy Foreign Minister Kazem Gharibabadi said Tehran would use some of its frozen assets in Qatar to purchase goods needed by the country, as reported by The Hindu — World.
• Memorandum implementation: Gharibabadi's statement was made in the context of implementing the memorandum of understanding between Iran and the US, as reported by The Hindu — World.
• $6 billion humanitarian spending: The US and Qatar are working to make $6 billion in frozen funds available to Iran for purchases of food, medicine, and other humanitarian goods, according to a report by The Jerusalem Post, which cited people familiar with the matter.
• Purchases by Iran's central bank: The purchases would be made by Iran's central bank with cash from oil sales, which have been frozen overseas by sanctions, as reported by The Jerusalem Post.
• 2023 US waiver: In 2023, the US issued a waiver sanction allowing $6 billion in Iranian oil revenue to be transferred from South Korea to Qatar for humanitarian goods, but the funds were frozen after the October 7th massacre, as reported by The Jerusalem Post.
• Potential precedent: The current plan may become a precedent for releasing more Iranian funds in the future, including a first pool of $24 billion frozen that Tehran wants released immediately, as reported by The Jerusalem Post citing people familiar with the matter.
• Vance's comments: US Vice President JD Vance said in June that the assets had not yet been unfrozen under the agreement, but if they were, the US and Qatar would have approval over the process, and suggested the money would be used to purchase US goods, including soybeans, as reported by The Hindu — World.

Perspectives

Iranian Deputy Foreign Minister: Kazem Gharibabadi stated that Tehran would use some of its frozen assets in Qatar to purchase goods needed by the country, and the required goods would be purchased and made available to Iran based on the needs communicated by Iran.

US Vice President JD Vance: Vance asserted that the assets had not yet been unfrozen under the agreement, but if they were, the US and Qatar would have approval over the process, and he suggested the money would be used to purchase US goods.

Iran's chief negotiator Mohammad Bagher Ghalibaf: Ghalibaf rejected the characterisation that the money would be used to purchase US goods, saying $12 billion of the country's $24 billion in frozen assets would be given to Iran's Central Bank to purchase any goods it needs.