Iran-US prisoner swap likely set in motion as $6 billion of once-frozen Iranian assets reaches Qatar

The anticipated exchange of prisoners between Iran and the United States is now set to occur following the transfer of approximately $6 billion in once-frozen Iranian assets to Qatar. This significant development has taken place in the lead-up to the United Nations General Assembly in New York, where President Ebrahim Raisi of Iran is scheduled to address the assembly. However, it is crucial to note that this exchange does not signal a reduction in tensions between the U.S. and Iran, as Iran has been enriching uranium to levels closer to weapons-grade.

Iran’s Foreign Ministry spokesman, Nasser Kanaani, confirmed the planned prisoner swap during a news conference aired on state television. He stated that the funds required for the exchange are now in Qatar. Kanaani also disclosed that five Iranian citizens imprisoned in the U.S. would be released, with two of them choosing to remain in the U.S.

The news agencies in Iran subsequently reported that the exchange would take place on Monday. However, Washington has not officially acknowledged these comments.

Notably, a Qatar Airways Airbus A320 arrived at Mehrabad International Airport in Tehran, a location where previous prisoner releases have occurred, further indicating the preparations for the swap.

This development has unfolded in the midst of a significant American military presence in the Persian Gulf, including the potential deployment of U.S. troops to safeguard commercial ships in the Strait of Hormuz, a critical route for a substantial portion of global oil shipments.

Criticism has arisen from various quarters regarding this deal, with some arguing that it could inadvertently boost the Iranian economy while Iran continues to pose a security threat to U.S. troops and Middle Eastern allies. This criticism may have implications for President Joe Biden’s re-election campaign.

On the U.S. side, the prisoners slated for release include Siamak Namazi, Emad Sharghi, and Morad Tahbaz, along with two others whose identities have not been disclosed.

The total amount transferred from South Korea to Qatar, depending on exchange rates, is estimated to range between $6 billion to $7 billion. These funds represent a debt South Korea owed Iran for oil purchases before the Trump administration imposed sanctions on such transactions in 2019.

The U.S. has emphasized that the money, once in Qatar, will be held in restricted accounts for humanitarian purposes, such as medicine and food, which are permitted under American sanctions targeting Iran due to its nuclear program. Iranian officials have generally concurred with this explanation, although some hard-liners have disputed it.

Iran and the U.S. have a history of prisoner exchanges dating back to the 1979 U.S. Embassy hostage crisis. The most recent major exchange took place in 2016, coinciding with a nuclear deal between Iran and world powers.

Despite the prisoner swap, tensions persist due to Iran’s advancing nuclear program, with concerns raised about its proximity to weapons-grade enrichment. The situation has also raised regional security concerns, particularly as Israel has voiced opposition to Iran’s nuclear ambitions and has been implicated in targeted killings of Iranian nuclear scientists.

Additionally, Iran’s supply of bomb-carrying drones to Russia for use in Ukraine remains a contentious issue in Iran-U.S. relations.

This complex and evolving situation underscores the intricate diplomatic challenges facing both nations as they navigate their relations on multiple fronts.

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More about Prisoner Exchange

• Iran-U.S. Relations: Detailed coverage of the Iran-U.S. prisoner swap and the release of frozen assets in Qatar.
• United Nations General Assembly: Information about the annual gathering of world leaders at the United Nations General Assembly in New York.
• Iran’s Nuclear Program: Information about Iran’s nuclear program and its implications.
• U.S.-Iran Prisoner Swaps: Historical context on previous prisoner swaps between Iran and the United States.
• Israel’s Stance on Iran’s Nuclear Ambitions: Information on Israel’s position regarding Iran’s nuclear ambitions and potential military actions.
• Iran’s Role in Ukraine Conflict: Coverage of Iran’s involvement in the Ukraine conflict through its supply of drones to Russia.
• South Korea-Iran Frozen Assets: Background on the release of Iranian frozen assets held by South Korea.
• U.S. Sanctions on Iran: Information about U.S. sanctions targeting Iran and their impact on financial transactions.