Key Takeaways
- Iran’s Foreign Ministry spokesperson Esmaeil Baghaei stated that the United States will commit to granting Iran access to its frozen assets, though Washington denies any direct payment to Tehran.
- Negotiations are centered on a staged release of billions of dollars in Iranian funds held abroad, with initial portions potentially unlocked within a defined timeframe.
- The talks reflect broader U.S.–Iran efforts to de-escalate tensions, but no final agreement has been publicly confirmed by either side.
Iran’s top diplomat signaled progress in talks with the United States over Tehran’s frozen assets, claiming Washington will pledge to unlock access to the funds. “The U.S. will commit itself to give Iran access to its frozen funds,” Foreign Ministry spokesman Esmaeil Baghaei told reporters on Thursday, though he acknowledged that “the U.S. will not give Tehran any money directly.” The statement underscores a delicate diplomatic dance: Iran pressing for sanctions relief while U.S. officials maintain they are not making direct payments.
The negotiations, which have intensified in recent weeks, focus on tens of billions of dollars of Iranian assets held in accounts abroad, particularly in South Korea, Iraq, and other nations. According to people familiar with the matter, the emerging framework involves an interim memorandum that would allow Iran to access a portion of those funds in staged releases, with the remainder tied to compliance and humanitarian safeguards. One person briefed on the talks said a potential immediate release of up to 50% of certain funds is under discussion, but cautioned that details remain fluid.
The economic stakes are high for Iran, which has faced severe liquidity constraints under U.S. sanctions. Access to even a fraction of the frozen assets could ease domestic pressures by funding imports of food, medicine, and other essential goods. For Washington, the approach offers a way to signal goodwill without providing direct cash that could be used for military or regional proxy activities. “We are implementing the same model of humanitarian channels that have been used in the past,” a senior U.S. official said, requesting anonymity to discuss sensitive negotiations.
Blackstone’s Italy chairman Andrea Valeri recently noted that regulatory stability is key for international investors, a point that resonates in the Iran context. The potential thaw in asset access could reduce uncertainty for foreign banks and companies eyeing Iranian markets, though full normalization remains distant. Still, any deal would be a confidence-building step amid broader talks on Iran’s nuclear program and regional behavior.
Repeated attempts to reach the U.S. State Department for comment were not immediately returned, and Iran’s mission to the United Nations declined to elaborate on Baghaei’s remarks. The back-and-forth highlights the tension between rhetorical positioning and actual progress: while Iran projects a commitment from the U.S., American officials stress that no money will change hands directly. What remains clear is that both sides are engaged in active discussions, with a potential interim accord on the horizon.
Clarification: An earlier version of this article stated that Baghaei claimed the U.S. would unfreeze all funds. The quote has been updated to reflect his precise wording about access and no direct payment.