In September 2023, South Korea released $6 billion in frozen Iranian assets as part of a prisoner exchange deal with the U.S. The money was deposited into Iranian bank accounts in Qatar so as to be available to Iran. However, following the Oct. 7 Hamas attack in Israel, the U.S. reportedly reached a “quiet understanding” with Qatar to prevent Iran from accessing the funds, according to a report in The Cradle. It has remained “frozen” ever since, with Qatar playing along with U.S. demands.
During last week’s Doha summit of the Asia Cooperation Dialogue, however, it was announced that Qatar had changed its mind. Iranian President Masoud Pezeshkian met with the Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani, and the two apparently finalized agreements for accessing the funds.
“In Qatar, we have $6 billion in assets. The issue was discussed during a meeting between the governors of the two countries’ central banks, as well as the meeting with the Qatari Emir. We reached a good understanding in this regard,” Pezeshkian said on Oct. 3 upon his return to Tehran.
The move is another indication of the remarkable shift within the Muslim world in the wake of Israel’s flagrant actions in the region.
