Biden Waives Sanctions to Enable $6 Billion Transfer: Facilitating Prisoner Swap with Iran | Wayne Dupree

According to a document seen by Reuters on Monday, the Joe Biden administratino has decided to waive sanctions in order to facilitate the transfer of $6 billion in Iranian funds from South Korea to Qatar. This move is a necessary step to proceed with a previously announced prisoner swap between the United States and Iran.

On August 10, the basic details of the U.S.-Iran deal were disclosed to the public. According to the agreement, five U.S. citizens who were detained by Iran would be permitted to depart in exchange for the transfer of funds and the release of five Iranians who were being held in the United States.


The determination made by Secretary of State Antony Blinken, as stated in a document from the State Department seen by Reuters, concluded that the decision to waive the sanctions was deemed to be in the best interests of the national security of the United States.

The U.S. government has officially acknowledged the release of five Iranians detained in the United States. This marks the first time that such an acknowledgment has been made. The release of these individuals is part of an agreement aimed at securing the freedom of five U.S. citizens.

The United States has made a commitment to facilitate the release of five Iranian nationals who are currently being detained in the country. Additionally, they have agreed to allow the transfer of around $6 billion in Iranian funds. These funds are currently held in restricted accounts in the Republic of Korea, and they will be transferred to restricted accounts in Qatar. It is important to note that these funds will only be accessible for humanitarian trade purposes.

According to the document, the transfer of funds is expected to offer only a limited advantage to Iran due to the specific restrictions placed on their usage. These funds are exclusively designated for humanitarian trade purposes.

The document states that it is necessary to enable the transfer of funds from restricted Iranian accounts in the Republic of Korea to accounts in Qatar for humanitarian trade. This is being done in order to facilitate the release of U.S. citizens.

According to eight Iranian and other sources who are familiar with the negotiations, it is possible that the transfer of the $6 billion and the prisoner exchange might occur as early as next week.


The waiver pertains to specific financial institutions that are primarily regulated by Germany, Ireland, Qatar, South Korea, and Switzerland. These institutions are allowed to conduct transactions with the National Iranian Oil Company, the Central Bank of Iran, and other Iranian financial institutions that are subject to U.S. sanctions.


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