Iran Confirms 'Release of Funds' in Exchange for Hostage Release, Denies 'Spending Method'

The Iranian Foreign Ministry confirmed on Thursday evening, August 10, that the release of blocked Iranian funds in South Korea is in exchange for the release of five Iranian-American hostages, but denied U.S. officials' statements regarding how these funds would be spent. The ministry stated: 'The release of several billion dollars of Iran's assets, which had been illegally seized by the U.S. in South Korea for several years, has begun, and we have received the necessary guarantees for the U.S. to adhere to its commitments in this regard.' It further clarified: 'The method of utilizing the released financial resources and assets is at Iran's discretion, and these resources will be spent for various needs of the country as determined by the relevant authorities.' The ministry emphasized that 'the prisoners of concern to the U.S. are still present in Iran' and added: 'In this context, the release of several innocent Iranian prisoners who have been illegally detained in this country over the past years on false charges of circumventing U.S. sanctions is being seriously pursued by the diplomatic apparatus, and in this regard, the release of several prisoners who have been illegally detained by the U.S. will soon be realized.' Al Jazeera reported on the same evening, citing John Kirby, the National Security Council's strategic communications coordinator at the White House, that the released Iranian funds from South Korea will be held in an account in Qatar and will be used for humanitarian purchases for Iran. On Thursday, news emerged that Iran had agreed to release five Iranian-American hostages in exchange for receiving $6 billion of its blocked funds in South Korea. Shortly thereafter, several media outlets reported that this amount would be transferred to an account in Qatar with the U.S.'s consent, and the Islamic Republic would not have the right to spend it except for humanitarian purchases under the supervision of Qatar. The family of Siamak Namazi recently confirmed through a direct video call that the Iranian-American prisoners; Siamak Namazi, Emad Shargi, and Morad Tahbaz have been released from Evin Prison and are on their way to house arrest. They had been informed in the early hours of Thursday that these three, along with a fourth unidentified American hostage, had been taken together to the prison office. There, the four prisoners were officially informed that they would be released from Evin Prison and transferred to house arrest, and then they agreed in writing to this transfer. The families of the four American hostages had previously been informed by the Biden administration on Wednesday afternoon that these four were expected to be transferred to house arrest. Although the fourth American prisoner was not directly seen leaving Evin Prison, their joint presence in the prison office suggests that he may have been transferred along with the other three, although this has not yet been confirmed. Meanwhile, it appears that a fifth American, an unidentified woman whose detention was recently made public, is currently under house arrest. In response to these developments, Babak Namazi, Siamak Namazi's brother, stated: 'We are grateful that Siamak and the other Americans have been released from Evin Prison and are under house arrest.' He added: 'Although this is a positive development, we will not stop our efforts until Siamak and the others return home. We continue to count the days until this happens.' Mr. Namazi noted: 'We have endured eight years of indescribable and terrible suffering, and we hope to be together as a family again.' Nizar Zaka: The world must work to free hostages while preventing the Iranian regime from hostage-taking. Report by Shahla Arasteh on Congress's reaction to the potential release of Iranian-Americans from prison. Details of the transfer of Iranian-Americans to an unknown hotel in Tehran; report by Gita Arian. Report by Farhad Poladi from the White House: the first reaction to the potential release of five hostages from Iran. Tom Cotton: We should not pay ransom to the Islamic Republic; John Kirby: It is a humanitarian action. CNN: The framework for 'dual-national prisoner exchanges' is separate from 'nuclear agreement negotiations.' The U.S. State Department: Five of our citizens should be allowed to leave Iran immediately.