The Biden administration issued a blanket waiver for international banks to transfer $6 billion in frozen Iranian money in South Korea without fear of U.S. sanctions.
and others who say the deal will boost the Iranian economy at a time when Iran poses a growing threat to U.S. troops and Mideast allies.
The waiver means that European, Middle Eastern and Asian banks will not run afoul of U.S. sanctions in converting the money frozen in South Korea and transferring it to Qatar’s central bank, where it will be held for Iran to use for the purchase of humanitarian goods.The transfer of the $6 billion was the critical element in the prisoner release deal, which saw four of the five American detainees transferredlast month. The fifth detainee had already been under house arrest.
People familiar with negotiations said they expect the detainees will be released as early as next week.include Siamak Namazi, who was detained in 2015 and was later sentenced to 10 years in prison on internationally criticized spying charges; Emad Sharghi, a venture capitalist sentenced to 10 years; and Morad Tahbaz, a British-American conservationist of Iranian descent who was arrested in 2018 and also received a 10-year sentence. The fourth and fifth prisoners were not identified.
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