Published on 6/27/2026
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Last update: 14:45 (Mecca time)
The frozen Iranian funds included in the terms of the memorandum of understanding are one of the files that raise disagreement between Tehran and Washington. Tehran believes that this money is its right, while Washington says it has the right to impose the conditions for its release.
According to Bloomberg estimates, the total frozen Iranian funds and assets range between $100 and $120 billion, accumulated over 47 years.
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A report for Al Jazeera prepared by colleague Ahmed Marzouk highlights the ongoing battle between Tehran and Washington over the frozen Iranian funds, and how the issue is no longer related to the frozen assets and funds that will be released, but rather who has the decision to spend them, for what purpose, and under what supervision.
The report indicates the difference between the American and Iranian accounts regarding the mechanism for disbursing this money once it is released.
American novel
The American narrative presents these funds as a fully controlled humanitarian path, and President Donald Trump said in a previous statement that part of the released Iranian assets will be used to purchase wheat, corn, and soybeans from American farmers, so that the goods reach the Iranian people, and not the money directly to the Iranian government.
US Vice President J.D. Vance also explained that the plan is based on joint approval of disbursement operations, then paying the money to approved suppliers outside Iran.
Washington wants to transform the frozen assets from a financial pressure card into a tool to increase direct demand for American agricultural products.
According to the American vision, the equation becomes as follows:
- Iranian money
- US-Qatari censorship
- American goods
The Financial Times had previously reported that the Trump administration had agreed to allow Iran to begin accessing $6 billion of its oil funds held in Qatar to purchase American products, following the first round of high-level talks between the two sides.
The newspaper added that these funds were previously stored in South Korea before being transferred to an account in Doha in September 2023.
Iranian novel
As for Tehran, it objects to the American approach, which was indicated by the Governor of the Central Bank of Iran, Abdel Nasser Hemmati, when he said that his country may use the released funds to buy American agricultural products, but he denied that it was obligated to limit its spending on American exports.
Accordingly, the Iranian position is based on the principle that:
- The money belongs to Iran
- Releasing the funds does not mean transferring the right to decide on them to Washington.
The Al Jazeera report concludes that the essence of the dispute is that Washington is talking about funds released with conditions, while Tehran is talking about funds recovered by right of sovereignty.
Where is the money concentrated?
Between the American and Iranian narratives, a third layer of complexity emerges. It is the banks, intermediaries and secondary sanctions, which make access to money very different from having it on paper.
Available reports and sources indicate that Iranian assets are distributed as follows:
China: 20 billion dollars.
Iraq: 15 billion dollars.
South Korea: 7 billion dollars.
India: 7 billion dollars.
Qatar: 6 billion dollars.
European countries, Japan and the United States: 10 billion dollars.
According to the Al Jazeera report, the frozen funds are stuck due to:
- Penalties
- Legal disputes
- Banking restrictions
- Bilateral understandings with countries that maintain accounts
Also, the bet now is not on a complete release all at once, but rather on a gradual mechanism linked to the implementation of the political understanding within a period of 60 days, and the Al Jazeera report indicates that:
- Tehran wants liquidity to finance imports and support the economy
- Washington wants the keys to exchange, and to link any financial breakthrough to political and security commitment
