Iran and the United States are set to exchange prisoners as frozen assets belonging to Iran have reached Qatar, easing tensions between the two nations. The exchange will take place on Monday after around $6 billion of frozen funds in South Korea were transferred to Qatar. Iranian Foreign Ministry spokesman Nasser Kanaani confirmed the swap, stating that the required funds for the exchange are now in Qatar. The prisoner exchange will involve the release of five Iranian prisoners held in the US and the transfer of five prisoners from Iran to the US.
The Iranian prisoners to be released include Siamak Namazi, who was detained in 2015 on spying charges, Emad Sharghi, a venture capitalist, and Morad Tahbaz, a British-American conservationist of Iranian descent. The identities of the other two prisoners have not been disclosed. The US has said that the planned swap also includes individuals held for allegedly attempting to export material to Iran. The release of these prisoners comes as Iran has been under international criticism for its treatment of individuals with dual citizenship.
The transfer of frozen assets from South Korea to Qatar has been a crucial element of the planned swap. The final dollar amount of the transferred funds could range from $6 billion to $7 billion depending on exchange rates. The US has clarified that the money will be held in restricted accounts in Qatar and can only be used for humanitarian goods such as medicine and food.
The prisoner exchange has come at a time when the US has been building up its military presence in the Persian Gulf. This has drawn criticism from Republicans and others who argue that the Biden administration is offering economic assistance to Iran while it poses a threat to US troops and its allies in the Middle East.
Prisoner swaps between Iran and the US have a history dating back to the 1979 hostage crisis, and the most recent major exchange took place in 2016. Negotiations for a significant prisoner swap had stalled after former President Donald Trump unilaterally withdrew the US from the nuclear deal in 2018. Tensions further escalated with attacks and ship seizures attributed to Iran.
The release of prisoners and the transfer of frozen assets have the potential to improve relations between Iran and the US. However, concerns remain over Iran’s nuclear program, which has been enriching uranium close to weapons-grade levels. Israel, a nuclear power, has expressed its opposition to Iran developing nuclear weapons and has been suspected of targeting Iran’s nuclear scientists.
