Iran’s top diplomat, Baghaei, claimed Wednesday that the United States has committed to granting Iran access to its frozen assets abroad, a statement that Washington swiftly contradicted, insisting it will not transfer any money directly to Tehran.

  • Baghaei asserts U.S. will unlock frozen funds; U.S. says no direct cash transfer.
  • Dispute centers on billions in assets tied to sanctions, with talks ongoing.
  • Any relief likely conditional and incremental, analysts say.

Diplomatic Standoff Over Frozen Assets

“The U.S. will commit itself to give Iran access to its frozen funds,” Baghaei told reporters in Tehran, framing the issue as a central plank of ongoing negotiations. He offered no timeline or specific amount, but Iran has long sought the release of an estimated $20 billion in assets held abroad, largely in South Korea, Iraq, and Luxembourg.

A U.S. official, speaking on condition of anonymity, rejected Baghaei’s characterization: “The U.S. will not give Tehran any money. Any sanctions relief would be conditional, incremental, and tied to verifiable changes in Iran’s behavior.” The official declined to elaborate on ongoing talks, which are believed to be mediated by Qatar and Oman.

The conflicting statements underscore the high-stakes diplomacy over Iran’s nuclear program, regional proxies, and ballistic missile development. For months, the two sides have been engaged in indirect talks, with Iran insisting on broad sanctions relief, including asset access, while the U.S. demands concessions first.

Economic and Market Implications

If Iran gains access to its frozen funds, it could inject much-needed liquidity into an economy battered by inflation and sanctions. That might stabilize the rial and reduce consumer prices, analysts say. For global energy markets, increased Iranian oil exports could ease supply tightness, though any relief would be gradual. Conversely, continued deadlock keeps risk premia elevated in Gulf bonds and oil prices.

“The market is watching these signals closely,” said a Dubai-based fund manager. “Even a partial thaw would shift sentiment on Iran risk, but we’ve seen false starts before.”

Talks Continue, But No Breakthrough Yet

Baghaei’s remarks appear aimed at domestic audiences, signaling progress in negotiations. However, U.S. officials stress that any asset release would follow a sequenced process, with Iran first taking steps on nuclear transparency and curbing support for militias. The two sides remain far apart, with little expectation of a sudden deal.

Attempts to reach Baghaei’s office for further comment were unsuccessful. The U.S. State Department declined to confirm or deny the specifics of the talks, citing diplomatic discretion.

Correction: A previous version of this article misstated the amount of frozen funds. Iran’s total frozen assets are estimated at around $20 billion, not $30 billion.