Iranian President Masoud Pezeshkian has said that USD 6 billion in frozen Iranian funds currently held in Qatar will be returned to Tehran under a preliminary agreement being discussed with the United States to end the ongoing conflict. His remarks came as senior delegations from both countries arrived at the Swiss resort town of Burgenstock for high-level negotiations.
The Swiss Ministry of Foreign Affairs confirmed the arrival of the delegations on X, saying, “The US delegation, led by US Vice-President JD Vance, the Iranian delegation, led by the Speaker of the Iranian Parliament, Mohammad Bagher Ghalibaf, and the mediators, Pakistan and Qatar, have arrived at the Burgenstock. Talks between the parties are set to begin today.”
Diplomatic talks begin as Iran says deal strongly favours Tehran
The negotiations are taking place under the Islamabad Memorandum of Understanding (MoU), signed on June 17 by US President Donald Trump and Iranian President Masoud Pezeshkian. Pakistan is acting as a guarantor of the agreement, while Qatar is serving as a mediator alongside Islamabad.
Expressing confidence in the framework, Pezeshkian said, “All provisions of the memorandum of understanding are in our favour, and the achievements of these talks and negotiations will become evident.” He also pointed to what he described as a shift in Washington’s position, saying Donald Trump, “who had forbidden us from doing many things in his recent speech, declared all of them as the rights of the people and the nation”. Reaffirming the financial aspect of the deal, he added, “Our $6bn in Qatar will be returned.”
Frozen funds at centre of negotiations and phased release plan
According to a Wall Street Journal report citing people familiar with the discussions, Iran may be allowed to regain access to the USD 6 billion frozen in Qatar under a draft framework aimed at ending hostilities between Tehran and Washington. However, the funds would reportedly be restricted to humanitarian purchases and other non-sanctioned goods, largely sourced from the United States.
The funds were derived from sales of Iranian oil, which had been deposited in South Korean banks earlier. In 2023, the funds were moved into Qatar as a result of a prisoner swap deal. The access to the funds was blocked after the Hamas attack of October 7.
Strait of Hormuz and ceasefire progress linked to fund access
Sources cited by the Wall Street Journal said the proposed arrangement would allow Iran to access the funds in stages during a 60-day ceasefire period tied to ongoing negotiations. The gradual release of the money would reportedly depend on the reopening of the Strait of Hormuz and continued progress toward a broader agreement between the two countries.
An American official familiar with the talks told the publication that portions of Iran’s frozen assets could be released if Tehran demonstrates what Washington considers “appropriate behaviour”, including cooperation over its stockpiles of enriched uranium.
Iran seeks reparations as nuclear issue remains key focus
Iranian Foreign Ministry spokesperson Esmaeil Baqaei said the United States had also committed to addressing the issue of frozen assets and compensation for damage caused during recent hostilities. “The release of the frozen Iranian assets, as well as reparations for damages, are two essential points. The American side has committed to taking measures in both areas,” Baqaei said during a weekly press briefing.
Pezeshkian also took aim at Israeli Prime Minister Benjamin Netanyahu, saying he would be “the first to be unhappy with the negotiations” taking place in Switzerland.
Regional tensions delay talks but expectations continue to rise
Addressing concerns over Iran’s nuclear programme, Pezeshkian said, “America’s only point is that we not have an atomic bomb. This is something the martyred leader also repeatedly said, ‘we do not want an atomic bomb.’” Referring to a religious decree by former Supreme Leader Ayatollah Ali Khamenei, he added, “America said ‘write this down and sign’ – and we signed.”
The technical discussions were initially scheduled to begin on Friday but were delayed following recent exchanges of fire between Israel and Lebanon. Meanwhile, Iranian state-linked media outlets have reported that Tehran hopes to secure access to as much as USD 12 billion in frozen assets during the proposed 60-day transition period. The issue remains politically sensitive in the US, although President Donald Trump has supported limited sanctions relief tied to Iran’s compliance with any future agreement.
(With inputs from ANI)
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Khalid Qasid is a media enthusiast with a strong interest in documentary filmmaking. He holds a Master’s degree in Convergent Journalism from AJK MCRC. He has also written extensively on esports at Sportsdunia. Currently, he covers world and general news at NewsX Digital.
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