Iran Demands Unconditional and Full Unfreezing of Iranian Assets

"The Last Remaining Obstacle" in Peace Negotiations

Iran has demanded the unconditional release of its assets frozen under U.S. sanctions. This is expected to present a new obstacle to peace negotiations with the United States.

Ali Bagheri-Kani, Deputy Secretary of the Supreme National Security Council of Iran, who was acting Iranian Foreign Minister as of June 2024 (left), is holding a press conference. Photo by Reuters-Yonhap News Agency

According to Tasnim News Agency, which is affiliated with the Islamic Revolutionary Guard Corps (IRGC), Ali Bagheri Kani, Deputy Secretary of Iran's Supreme National Security Council, stated on the 27th that the United States must unconditionally and fully unfreeze all Iranian assets. He described this as "the legitimate right of the Iranian people."

He also told Russia's state news agency RIA Novosti on the same day that Iran is demanding the return of all Iranian assets frozen by the United States. He said, "The frozen assets are rightfully ours, but the United States has forcibly restricted access to them," adding, "Naturally, we want to recover assets that belong to us. This means the assets must be returned in full."

According to Iran's Fars News Agency, the unfreezing of Iranian assets is cited as the last remaining obstacle. It is estimated that more than 100 billion dollars (approximately 150 trillion won) of Iranian assets are frozen overseas. 100 billion dollars is about one-fourth of Iran's gross domestic product (GDP) in 2024. In recent peace negotiations with the United States, the partial unfreezing of 24 billion dollars (about 36 trillion won) has emerged as a key issue between the two countries.

Associates of former U.S. President Donald Trump have pointed out that concessions to Iran could entail political costs, make Iran appear victorious, and potentially weaken the United States' bargaining leverage. One close aide to the President told the British daily The Independent, "This is a deal Trump cannot accept."

The release of frozen assets is expected to provide significant support to Iran, which has been deeply affected by long-standing sanctions and war. Frederic Schneider, a senior research fellow at the Middle East Global Issues Council, told Al Jazeera, "For Iranian society, which has suffered for decades under U.S.-led sanctions, the unfrozen assets would represent a substantial sum."

This content was produced with the assistance of AI translation services.