Iran Announces $7 Billion In Frozen Assets To Be Released Within Weeks

Authored by Jason Ditz via AntiWar.com,

Iran’s Foreign Ministry says that $7 billion in foreign-held assets are going to be unfrozen and returned to Iranian control within a matter of weeks. The money will be put into accounts abroad.

Details are still emerging, but officials say a high-ranking delegation will visit Iran later this week to finalize the deal. Exactly which accounts are being unfrozen is unclear, though this is not the $7 billion that Iran is owed by South Korea.

There had previously been media reports claiming that the South Korea assets could be released as part of an exchange in which Iran would release three prisoners, though Iranian officials denied any development on that matter.

Any release of assets would be a big achievement for Iran, whose economy is struggling mightily under the burden of Western sanctions, and could be used to shore up Iran’s currency.

The timing is also good, coming as Iran was seeking some assurance that sanctions relief would be realized under the nuclear deal. Getting some money ahead of time would go a long way toward building confidence.

However, as another week begins in the Vienna talks aimed at restoring the Iran nuclear deal, there are signs that even the optimistic Iran is starting to lose faith in the process, and wonder if a deal will ever get done.

Iran’s Foreign Ministry issued a statement saying they’re no longer sure a deal will be made at all, cautioning that more than one issue is yet to be resolved. They did not specify what those issues are. Notably, they still see the US as the primary obstacle to this deal, saying they’re unsure if the US has the will to get the deal done at all. This has been an ongoing concern, irrespective of the issues to be resolved.

Previously, Iranian officials had indicated that they considered the negotiations to be resolved, and were just waiting on the US to make a “political decision.” The waiting, it seems, is not over.