Iranian President Masoud Pezeshkian confirmed on June 21 that $6 billion in frozen Iranian funds held in Qatar will be returned to Iran.
Pezeshkian stated that the US only sought assurances regarding Iran’s nuclear program in exchange for unlocking the funds.
How $6 billion ended up in Qatar
The $6 billion originated from payments for Iranian oil exports to South Korea. When sanctions hit in 2019, those revenues were frozen in South Korean banks, effectively locking Iran out of its own money.
In September 2023, the Biden administration orchestrated a transfer of the funds from South Korea to Qatari banks. That move was part of a prisoner swap deal that secured the release of five American detainees held in Iran.
