US Allows Transfer Of IDR 92 Trillion Funds As Part Of Prisoner Exchange With Iran

Illustration of the White House. (Wikimedia Commons/Matt H. Wade)

JAKARTA - The United States has abolished sanctions to allow the transfer of Iranian funds of US$6 billion (Rp92,141,700,000,000) from South Korea to Qatar, a necessary measure to carry out the exchange of detainees for both parties previously announced.

The US-Iran agreement outline states that five US citizens detained by Iran will be released in exchange for fund transfers and the release of five Iranians detained in the US announced on August 10.

According to a State Department document seen by Reuters as reported September 12, Foreign Minister Antony Blinken has determined that the lifting of sanctions is in the interest of the United States' national security.

Documents sent to the US Congress committee marks the first time the US Government has officially acknowledged the release of five Iranians detained in the US, as part of an agreement to guarantee the freedom of five US citizens.

"To facilitate their release, the United States has committed to releasing five Iranian citizens who are currently detained in the United States and allowing a transfer of about $6 billion in Iranian funds deposited in a limited account in (Korean Republic) to a limited account in Qatar, where the funds will only be available for humanitarian assistance," the document read.

The document says the transfer of funds will only provide "limited benefits to Iran" as the funds can only be used for humanitarian aid.

"Allowing these funds to be transferred from Iran's limited account stored in (Korean Republic) to an account in Qatar for humanitarian assistance is needed to facilitate the release of this US citizen," the document said.

Meanwhile, White House spokeswoman Adrienne Watson said in a statement late Monday that Foreign Minister Blinken on September 8, had taken "procedural steps in a sustainable process to ensure Iran's funds could move from one limited account to another and remain limited to humanitarian trade".

He said the government had provided information to Congress since the beginning of the process.

"As we have said from the start, what is being done here is a regulation in which we guarantee the release of five Americans who were illegally detained. This is still a sensitive and sustainable process," he said.

"While this is a step in the process, no individual has been or will be released into US custody this week."

Meanwhile, Iranian sources and other sources familiar with the negotiations said the transfer of funds and prisoner exchange could be made as early as next week.