US and Qatar may give Iran access to 6 billion dollars in frozen funds - report

The United States is working with Qatar on a plan that would give Iran access to $6 billion in frozen assets for humanitarian purchases, the Wall Street Journal reported, citing people familiar with the matter.

The proposal would allow Tehran to use funds held in Qatar to purchase food, medicine, and other humanitarian goods through Iran’s central bank.

The arrangement has not been finalized and still requires Iran’s approval, according to the report.

The funds are part of an estimated $100 billion in Iranian assets frozen around the world, largely consisting of proceeds from oil sales restricted by international sanctions.

The initiative is being discussed following the memorandum of understanding signed this week between Washington and Tehran that paused hostilities and reopened the Strait of Hormuz.

Under the memorandum, the U.S. committed to making Iran’s frozen assets available for use and to negotiate a process for accessing those funds.

A U.S. official cited by the Journal said access to the assets would depend on Iran’s continued engagement in negotiations.

The report said the proposal is expected to be one of several issues discussed during the next two months of negotiations between Washington and Tehran aimed at reaching a broader agreement.