No transfer yet: Qatar says Iran’s $6 billion remains frozen

Qatar’s Foreign Ministry spokesperson stated on June 30 that the $6 billion in frozen Iranian funds has not yet been transferred to Iran, adding that the money remains subject to the 2023 agreement and is designated for humanitarian purchases.

The spokesperson also said that US envoys Steve Witkoff and Jared Kushner are in Doha to meet with Qatari mediators regarding US-Iran negotiations, but will not hold direct talks with Iranian officials at this stage.

The Foreign Ministry representative further noted that Qatar is coordinating closely with Oman on issues related to the Strait of Hormuz and ensuring the safe passage of vessels through the strategic waterway.

According to the spokesperson, a direct communication channel aimed at preventing incidents and reducing tensions in the Strait of Hormuz has been used over the past several days to help contain potential confrontations.

The $6 billion in Iranian funds held in Qatar originated from oil revenues frozen under US sanctions and were transferred from South Korea to Qatari accounts in 2023 as part of a prisoner exchange deal that freed five American detainees.

Under that agreement, the funds were restricted exclusively to humanitarian purchases such as food and medicine, with strict US oversight to prevent misuse.

Following the October 7, 2023, Hamas attacks on Israel, the Biden administration and Qatar agreed to re-freeze the assets to limit Iran's financial manoeuvrability amid heightened regional tensions.

Iran has long sought access to these and other frozen assets worldwide—estimated in the tens to over $100 billion—as leverage in nuclear and sanctions negotiations with the US

By Jeyhun Aghazada