Released Iranian Funds Will Be Used to Purchase Goods

The Governor of the Central Bank of Iran, Mohammad Reza Farzin, announced today, Saturday, that all Iranian funds frozen in South Korea have been released, adding that they will be used to purchase "un-sanctioned goods." This statement, published by Farzin on social media, appears to confirm what Washington announced yesterday regarding restrictions on how Iran can use any funds released under a forthcoming agreement that resulted in the release of five Americans from prison and their house arrest in Tehran. White House spokesperson John Kirby stated that Iran would only be able to use the funds for "the purchase of food, medicine, and medical equipment that does not have dual military use." The Iranian assets held in South Korea are estimated to be around six billion dollars. An informed source told Reuters that the five Americans would be allowed to leave Iran once the Iranian funds are unblocked. Farzin mentioned in a post on the platform X (formerly Twitter) that the funds will be transferred to six Iranian banks in Qatar.