• Iran's top negotiator says the US will commit to giving Tehran access to its frozen funds, but will not provide any direct cash payments.
  • The dispute over an estimated $6–12 billion in assets is a central bargaining chip in ongoing negotiations toward an interim deal.
  • Both sides are weighing humanitarian releases versus broader sanctions relief amid domestic political scrutiny.

No Direct Cash, but Asset Access

The head of Iran’s negotiating team, Abbas Baghaei, indicated on Thursday that while the United States (USA) has committed to unfreezing some of Iran’s overseas assets, it will not make any direct cash transfers to Tehran. “The U.S. will commit itself to give Iran access to its frozen funds, but will not give Tehran any money,” he said, according to people familiar with the matter. The comments come as negotiators in Vienna work to finalize a bilateral interim agreement aimed at reducing hostilities.

Iran has long sought access to an estimated $6 billion to $12 billion in assets held abroad, much of it from oil sales, as leverage in broader talks. The U.S. has proposed staged releases for humanitarian goods, such as food and medicine, rather than full repatriation. A senior U.S. official, speaking on condition of anonymity, confirmed that “no direct government-to-government payments are on the table,” while insisting the humanitarian mechanism would provide “real liquidity” for Iran’s economy.

Stakes and Domestic Reactions

The negotiation is framed as a trust-building step, but both sides face pressure at home. Hardliners in Iran have criticized any deal that does not fully unfreeze assets, while U.S. lawmakers are wary of providing relief that could bolster Tehran’s military or regional proxies. “Europe and regional actors are urging a cautious, rules-based approach to avoid triggering broader sanctions relief or renewed tensions,” noted a diplomat involved in the talks.

Meanwhile, Iran’s currency has strengthened slightly on news of potential access to funds, though markets remain volatile. Analysts say the immediate focus is on a narrowly defined humanitarian channel, but any longer-term resolution would require broader diplomatic breakthroughs, including reductions in regional tensions and a framework addressing both sanctions policy and Iran’s economic needs.

Attempts to reach Baghaei for further comment were unsuccessful. Negotiations are expected to continue through the weekend.