Iran's Top Negotiator Announces Agreement on Release of $12 Billion in Frozen Funds

Iran's top negotiator Mohammad Bagher Ghalibaf has announced an agreement between Tehran and Washington on the release of twelve billion dollars in frozen Iranian funds. The funds are to be released in two separate tranches, each amounting to six billion dollars. Ghalibaf made the announcement following recent diplomatic contacts between the two sides.

This development is connected to a temporary easing of sanctions by the United States on Iranian oil sales. The easing of sanctions on the sale of oil and petrochemical products is scheduled to last until August twenty one. The measure has been presented as a means to facilitate the transfer of the frozen assets.

Several other topics were part of the discussions. These include arrangements for nuclear inspections and the specific use of the released funds. US President Donald Trump has said that Iran agreed to allow international nuclear inspections. He also noted that the assets would be used to purchase agricultural products from the United States.

The two nations also agreed to create a coordination center focused on Lebanon. The purpose of this center is to address disputes and prevent renewed fighting there.

Additionally, new mechanisms for the Strait of Hormuz were discussed during the negotiations. These are expected to provide frameworks for managing activities in the area.