The White House dismissed Iranian state media reports about the terms of a draft Memorandum of Understanding between the two countries, calling the claims a “complete fabrication.” The core message from US officials: no Iranian funds will be released upfront.
The rejection, issued by the White House rapid response team on May 27, 2026, draws a hard line in what has become an increasingly messy public negotiation over billions in frozen Iranian assets. On June 2, 2026, the US Treasury imposed sanctions on Nobitex, Iran’s largest digital asset exchange, for alleged sanctions violations and facilitation of terror finance.
Billions in frozen assets, zero agreement on how to unlock them
Iran is pushing for immediate access to at least $12 billion held in Qatar as a precondition for any deal. The US insists that any financial relief must be tied to verifiable compliance with a final agreement, not just a preliminary memorandum.
The broader pool of frozen Iranian assets reportedly ranges from $12 billion to $24 billion, held primarily overseas. Qatar has served as both a holding ground for these funds and a mediator in the negotiations, alongside Pakistan.
