The United States and Qatar have reached an agreement to freeze $6 billion in Iranian funds in response to the brutal war launched Oct. 7 against Israel launched by Hamas, Iran’s proxy in Gaza.
The money was formerly held by South Korea due to sanctions against the Islamic Republic. It was transferred to the Qatari government after the Biden Administration agreed to unfreeze the funds in exchange for Iran freeing Americans held hostage by the mullahs.
Deputy Treasury Secretary Wally Adeyemo informed House Democrats on Thursday about the decision, the Washington Post reported.
Speaking in Tel Aviv on a visit to Israel on Thursday, Secretary of State Antony Blinken told reporters in Tel Aviv that the Iranian funds were transferred from South Korea to Qatar to be held under supervision ‘pursuant to an arrangement established by the previous administration.’
“None of the funds that have now gone to Qatar have actually been spent or accessed by Iran in any way,’ Blinken said. He did not elaborate on future plans for the funds, which are limited to ‘humanitarian’ use such as food and medicine.
‘We have strict oversight of the funds and we retain the right to freeze them,’ Blinken said.
