US pledges to release USD 24 billion in frozen Iranian assets, media reports

The United States has pledged to release USD 24 billion (approximately IDR 427 trillion) of Iran’s frozen foreign assets, with half of that sum to be returned to Iran before the signing of a memorandum of understanding between the two countries, Iran’s Mehr news agency reported, citing the draft memorandum. “USD 24 billion of Iranian assets must be unfrozen during the 60-day final negotiation period. Half of that amount must be given to Iran before negotiations begin,” Mehr wrote, quoting the contents of the draft peace agreement. The report stated that the 60-day final negotiation period will commence after the signing of the agreement between Iran and the United States, scheduled for Friday, 19 June. Previously, Iran’s Deputy Foreign Minister Kazem Gharibabadi confirmed that the drafting of the memorandum of understanding between Iran and the United States had been completed and that the signing of the document would take place in Switzerland on Friday, 19 June.