White House Confirms Limits on Released Iranian Funds Following American Detainee Release

White House Confirms Limits on Released Iranian Funds Following American Detainee Release

Shafaq News/ The White House announced on Friday its commitment to imposing restrictions on the use of any funds released as part of an agreement that led to the release of five Americans placed under house arrest in Iran.

White House spokesman John Kirby assured reporters that the United States would be closely monitoring and have "full visibility" about the allocation and utilization of any Iranian funds that might be released.

The South Korean Foreign Ministry expressed optimism earlier about resolving the issue concerning frozen Iranian assets. The ministry indicated it was in consultation with relevant stakeholders, including the United States and Iran, to address the matter of frozen funds amicably.

While reports have surfaced suggesting a potential linkage between the release of the five detained Americans and the unfreezing of $6 billion in Iranian funds held in South Korea, the ministry refrained from confirming these claims, stating that it lacked corroborating information.

In a significant development on Thursday, the White House confirmed the transfer of five American detainees from prison to house confinement in Iran. Negotiations for their ultimate release are reportedly in progress, with officials treading cautiously given the delicate nature of the situation.

Iran's mission to the United Nations disclosed that individuals holding dual Iranian and American citizenships were released from Tehran's Evin prison on Thursday as part of a prisoner exchange agreement between Tehran and Washington. The mission further detailed that the accord, facilitated by a third party, also encompasses the release of five Iranians detained in the United States, coupled with the unfreezing and transferring of Iranian funds from South Korea to Qatar.

A source familiar with the indirect talks between the U.S. and Iran shared insights with Reuters, outlining the transferred funds' stipulations. Once relocated from South Korean financial institutions to an alternative entity, the money is expected to be relegated to strictly humanitarian purposes, such as acquiring food and medicine.

Iran's semi-official Tasnim news agency detailed the financial transaction process, indicating that the funds would be converted from South Korean currency into euros before being transferred to an account in Qatar, providing Iran with a channel for subsequent transactions.

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