Iran To Access $5.94 Billion in Unfrozen Assets Through Qatari Banks

Iran and Qatar have agreed to initiate banking operations that will enable Iran to utilize its recently unfrozen assets now housed in Qatari banks. Mohammad Reza Farzin, the governor of the Central Bank of Iran, met with his Qatari counterpart, Bandar bin Mohammed bin Saoud al-Thani, in Doha to discuss enhancing financial and banking ties between the two countries. The move comes after $5.94 billion in Iranian assets, previously frozen in South Korean banks, were transferred to two Qatari banks. Farzin and al-Thani emphasized the need to boost financial and banking cooperation to tap into their countries’ abundant economic capacities. This agreement was part of a Doha-mediated deal between Tehran and Washington, which also involved a prisoner swap of 10 individuals, with each side releasing five.