Iran has demanded that the United States first wire half of $24 billion (approximately 36 trillion won) in frozen funds as a condition for signing a ceasefire memorandum of understanding (MOU). The demand came as tensions between the two sides escalated again following US military airstrikes on Iranian missile bases in southern Iran.
Al Arabiya reported Thursday, citing diplomatic sources, that Iran has demanded the release of half of its frozen funds as a condition for signing the ceasefire MOU. Mohammad Bagher Ghalibaf, speaker of Iran's parliament, visited Qatar to discuss measures for releasing the frozen assets.
During negotiations, Iran demanded the release of approximately $24 billion in frozen funds, insisting that $12 billion (approximately 18 trillion won) be paid upfront. Tehran's position is that the remaining half must be wired within 60 days.
Iran has strongly demanded the upfront payment as a "gesture of trust" guaranteeing implementation of the MOU and main negotiations. Fars News Agency reported that Iran's position is that "no negotiations are possible unless the frozen funds are deposited."
Iran's frozen funds held overseas are estimated at approximately $100 billion (approximately 150 trillion won). Qatar holds $6 billion (approximately 9 trillion won) that was wired from South Korea three years ago. "The most serious disagreement surrounding the start of negotiations is the approach to frozen funds," a source said. "The United States tried to back away, but Iran adamantly demanded that the agreed funds be deposited."
The signing of the ceasefire MOU, which had appeared close to conclusion, now seems to be postponed again. US Secretary of State Marco Rubio told reporters after his visit to India that "it could take a few more days to reach a deal." He added, "President Donald Trump has expressed his will to conclude the negotiations. Either we have a good deal or no deal at all."
Regarding the previous day's US military airstrikes on Iranian missile launch bases and a mine-laying vessel near the Strait of Hormuz, Iran's foreign ministry protested that it was "a clear violation of the ceasefire agreement" and "a malicious and untrustworthy act." Iran's Islamic Revolutionary Guard Corps (IRGC) stated it would "respond resolutely," and Supreme Leader Ayatollah Mojtaba Khamenei also warned that "the United States will no longer have safe military bases in this region." The remarks suggested the possibility of strikes on US military bases in the Middle East.
President Trump will hold a cabinet meeting on the 27th to discuss measures in response to Iran. The meeting was originally scheduled to be held at Camp David but will now take place at the White House due to inclement weather, Trump announced through Truth Social. On June 8 last year, Trump discussed military options against Iran with top security advisers and military generals at Camp David, then launched the "Midnight Hammer" operation on the 21st, striking three Iranian nuclear facilities.
Meanwhile, the United States denied reports that it had resumed the "Freedom Project" to escort merchant ships through the Strait of Hormuz. In contrast, Iran's Revolutionary Guard claimed that within 24 hours, 25 vessels including oil tankers and container ships had passed through the strait with permission. The Revolutionary Guard stated that "smart control" of the Strait of Hormuz is being exercised and warned that violators would face "harsh strikes."
