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US pledges $12 billion to Iran in frozen assets

US pledges $12 billion of Iran's frozen assets. This could be a major step towards easing tensions between the two countries.

Sebastian Young
BySebastian Young- Senior Editor
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The content of a draft memorandum of understanding that could be the first step towards easing the long-standing confrontation between Tehran and Washington has been revealed.

According to Oxu.Az, this was reported by the Islamic Republic of Iran Broadcasting (IRIB).

According to a post on social media, the US has committed to providing Iran access to $12 billion of its previously frozen assets. It is stated that this process should be completed within 60 days after the agreement is signed.

The information came amid active diplomatic consultations and ongoing military tensions in the region between the US and Iran. However, neither the White House nor the US State Department has confirmed the information. The Iranian side also emphasizes that the discussion is still about a draft memorandum that could be changed.

Previously, the Iranian side had stated that Tehran demands the unfreezing of all its frozen assets held in foreign banks, including in South Korea, Iraq, and other countries.

According to the Tasnim agency, citing a source close to the negotiations, Iran has presented a 14-point proposal package to the US. In the financial part, Tehran demanded the unblocking of a total of $24 billion: $12 billion at the stage of signing the memorandum and de-escalation, and the remaining $12 billion at a later stage based on the results of negotiations on the nuclear program.

According to reports, the parties have made some progress on the first $12 billion, which is reflected in the draft memorandum. If confirmed, this could be regarded as a significant concession by the Trump administration to Tehran.

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US pledges $12 billion to Iran in frozen assets | Bond.az