- A tentative agreement has been reached between the U.S. and Iran, which aims to eventually release five detained Americans in Iran and an unspecified number of Iranians imprisoned in the U.S.
- The deal involves transferring frozen Iranian assets worth $6 billion to $7 billion from South Korea to Qatar.
- The U.S. has approved the conversion of frozen Iranian assets in South Korea from the Won to Euros, with the funds then being sent to Qatar, where they will be held in restricted accounts for humanitarian purposes. In return, Iran will release the five Iranian-Americans held in its prisons.
- The process is expected to take time due to concerns over the conversion of currency and avoiding U.S. financial system involvement. The release of the detainees and the completion of the agreement are anticipated by mid- to late-September. Read More
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