US to release $12bn of Iran's frozen assets, state media reports

“US to release $12bn of Iran's frozen assets, state media reports Iranian state-affiliated news agency Mehr News Agency reported that a proposed memorandum of understanding between the United States and Iran includes provisions for the release of frozen Iranian assets. According to the report, the document calls for the unfreezing of $24 billion in Iranian funds during a 60-day negotiation period that would begin after the memorandum takes effect. The report said half of that amount, or $12 billion, would be made available to Iran before the negotiations begin. The text of the reported 14-point memorandum has not been officially confirmed by either Washington or Tehran, and US officials have previously indicated that any sanctions relief or economic benefits would be linked to Iranian compliance with the terms of a future agreement.

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