U.S. Makes Deal With Iran To Swap Prisoners And Release $6 Billion In Frozen Iranian Funds

WASHINGTON (AP) — The Biden administration has cleared the way for the release of five American citizens detained in Iran by issuing a blanket waiver for international banks to transfer $6 billion in frozen Iranian money in South Korea without fear of U.S. sanctions.

Secretary of State Antony Blinken signed off on the move last week but Congress was not notified of the decision until Monday, according to the notification, which was obtained by The Associated Press.

The waiver means that European, Middle Eastern and Asian banks will not run afoul of U.S. sanctions in converting the frozen money in South Korea and transferring it to Qatar’s central bank, where it will be held for Iran to use for the purchase of humanitarian goods.

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