Opening Accounts for Six Private Banks in Qatar for Korean 'Dollars'; Germany Involved

The news agency 'Tasnim' reported details about the release of $6 billion in frozen assets in a South Korean bank, involving Germany and Switzerland in delivering this money to two banks in Qatar. According to the report, the Iranian Central Bank's foreign currency resources will first be deposited into the German Central Bank's account in Switzerland, where the process of converting 'won' to euros will take place. It has been announced that the conversion of South Korean 'won' to euros will also face a limit of 500 million 'won' per week, and this process will take up to six weeks. The final amount will ultimately be around 3.5 billion euros, which will be deposited into two banks in Qatar, and accordingly, six private Iranian banks have opened accounts in these two Qatari banks. It is reported that within the next 4 to 6 weeks, the Iranian Central Bank will have complete access to these resources. The announcement of the release of $6 billion of Iran's blocked funds in South Korea in exchange for the release of five Iranian-American prisoners in Iran has provoked various reactions from social media users. While U.S. Secretary of State Antony Blinken stated that Iran can only use the released funds for humanitarian purposes, some users compared this exchange to 'Saddam's oil-for-food program' and deemed it 'humiliating.' The Iranian Foreign Ministry confirmed on Thursday, August 10, that the receipt of Iran's blocked funds in South Korea in exchange for the release of five Iranian-American hostages, but denied U.S. officials' statements regarding how these funds would be spent. Antony Blinken emphasized that the Islamic Republic will not receive any 'relief from sanctions' in exchange for the release of five dual-national prisoners. Iranian officials have claimed that the release of the dual-national Iranian-American prisoners is 'unrelated' to the release of the blocked funds in South Korea, but the simultaneity of these developments and previous history during the 'JCPOA' agreement has made many citizens find the claims of Iranian officials unbelievable. The five dual-national prisoners were transferred from prison to a location outside the prison last week but have not yet been able to leave the country. It seems that the timing of their exit from Iran depends on the finalization of the financial transfers of the blocked funds, which, according to Tasnim, affiliated with Iran's security institutions, will take '4 to 6 weeks.' Mike Turner, an American legislator, suggested that Congress should consider a travel ban to Iran. When the removal of the dollar from trade resulted in the loss of a billion dollars, the governments of Rouhani and Raisi blamed each other. The reactions of newspapers to the exchange of dollars for several dual-national prisoners included conservatives claiming 'victory without ransom' while government critics argued it was a forced agreement. The U.S. emphasized that the released funds would only be used for 'medicine, food, and non-sanctioned items.' The U.S. stated that the released funds are for purchasing non-sanctioned items; users commented that it is 'shameful.' The Deputy of Raisi stated that until the complete transfer of $6 billion, the American prisoners will remain in Iran. Tom Cotton remarked that no concessions should be made to the Islamic Republic, while John Kirby called it a humanitarian action. Iran confirmed the 'release of funds' in exchange for the release of hostages but denied the 'spending method.' Blinken stated that they want to ensure the process is completed and the prisoners are returned home.