Iran Says U.S. Agreed to Unblock $12 Billion in Frozen Funds
Agreed to Unblock $12 Billion in Frozen Funds The breakthrough surpasses South Korea's… What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… Iran and the United States have reached an agreement under which the U.S.
would release $12 billion in frozen Iranian funds, Mohammad Bagher Ghalibaf, Iran’s top negotiator, said on Tuesday, as carried byAl Jazeera.
On his way back from Switzerland, where the first round of “encouraging” talks were held on Sunday and Monday, Ghalibaf told reporters that “the U.S.
and Iran can work together to reopen the Strait of Hormuz.” Yet, the top Iranian negotiator said that the Strait of Hormuz would never return to the way it was before the war.
Iran, however, will fully comply with international law, Ghalibaf said.
Early on Tuesday,oil prices droppedin Asian trade as reports emerged that the U.S.
and Iran continue to make progress in the negotiations toward a potential deal on a lasting peace.
SetOilPrice.comas a preferred source in Googlehere.
Treasury’s Office of Foreign Assets Control (OFAC) on Sunday issued a temporary general licenseauthorizingthe production, delivery, and sale of crude oil, petrochemical products, and refined oil products of Iranian origin through August 21, 2026.
Iran’s Foreign Minister, Seyed Abbas Araghchi, on Mondaysaidthat “Oil and petrochem exports are waived, blockade lifted, some frozen assets released, and major reconstruction & development plan launched for Iran,” noting that “Tireless Pakistani and Qatari mediation has delivered major progress to end Lebanon War.” However, Iran’s President Masoud Pezeshkian early on Tuesday warned in anX postthat “The effectiveness of the talks depends on full commitment to the agreed obligations and their precise implementation.” “Statements outside the agreed text do not help advance the negotiations,” the Iranian President said, after U.S.
President Donald Trump has made some claims in recent hours, including that Iran has agreed to allow international inspections at its nuclear facilities and that any released Iranian funds would be used to buy U.S.
Iran Moves to Tap Key Asian Markets as U.S.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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