Trump Claims Unfrozen Iranian Assets Will Be Used to Buy US Agricultural Products

Washington - President Donald Trump claimed on Monday that if Iranian financial assets currently held are unfrozen as part of negotiations, the funds would be allocated to purchase agricultural products from American farmers.

Earlier in the day, the US Department of the Treasury’s Office of Foreign Assets Control issued a general licence for the sale of Iranian crude oil and petrochemical products until 21 August, further permitting their import into the US as necessary for the sale, shipment, or unloading of such goods.

“If sanctions are lifted, the money will come into this country. All of that money will come back into this country through the purchase of food that they desperately need,” Trump told reporters when asked about the lifting of sanctions. “The money we take in will be given to our farmers, largely to our farmers,” he added.

When further questioned on how his administration would ensure the Islamic Republic would not use revenue from oil sales to rebuild its military, the president said, “We’ll see.” He added, “They shouldn’t do that… they should use the money to buy food for their people… they buy it openly from us: corn, soybeans. It should be a lot of money.”

Last week, Iran and the US signed a memorandum remotely that arranges for the cessation of the military conflict that began on 28 February. The document also sets a deadline for the US to lift its naval blockade of Iranian ports and for Iran to restore shipping in the Strait of Hormuz. Negotiations between Iran and the US, with Pakistan and Qatar as mediators, were held at the Burgenstock resort in Switzerland on 21 June.