U.S. Treasury will oversee frozen Iranian funds when they're released, Bessent says

<p>Bessent said the initial money would likely be released from <a href="https://www.cnbc.com/2026/06/22/dozens-injured-and-18-missing-after-explosion-at-qatar-lng-site.html" target="_blank" rel="noopener noreferrer">Qatar</a>, with Treasury officials in Doha overseeing how the funds are allocated. He said the <a href="https://www.cnbc.com/2026/06/20/iran-reportedly-closes-strait-of-hormuz-again-raising-doubt-over-talks.html" target="_blank" rel="noopener noreferrer">arrangement</a> would "recycle" the money back into U.S. products.</p>

<p>The comments come as the White House faces <a href="https://www.cnbc.com/amp/2026/06/23/thune-congress-vote-trump-iran-deal.html" target="_blank" rel="noopener noreferrer">backlash from some congressional Republicans</a> over whether Trump's deal gives Iran too much, including sanctions relief and access to frozen funds, in exchange for a temporary negotiating window.</p>

<p>The arrangement described by Bessent would also create a potential domestic economic argument for the deal: Some of the released funds could flow back to U.S. farmers, <a href="https://www.cnbc.com/markets/agriculture/" target="_blank" rel="noopener noreferrer">food producers</a> and <a href="https://www.cnbc.com/pharmaceuticals/" target="_blank" rel="noopener noreferrer">pharmaceutical companies</a> if Iran is required or encouraged to use the money to buy U.S. goods.</p>

<p>But the mechanics remain unclear.<br /><br />Bessent did not specify how much <a href="https://www.cnbc.com/2026/06/19/us-iran-talks-switzerland-canceled-interim-deal-markets.html" target="_blank" rel="noopener noreferrer">money would be released</a>, which entity in Qatar would control the account, where the funds would be held, what role Iran would play in directing purchases or what enforcement tools the Treasury would use to ensure the money is not diverted.</p>

<p>Administration officials have contended the interim deal is designed to stop hostilities and create a <a href="https://www.cnbc.com/2026/06/22/us-iran-roadmap-final-deal-switzerland-talks-lebanon-deconfliction.html" target="_blank" rel="noopener noreferrer">60-day window</a> for a broader agreement. Critics say the White House is offering too much up front while leaving <a href="https://www.cnbc.com/2026/06/15/vance-iran-deal-negotiations-nuclear.html" target="_blank" rel="noopener noreferrer">major security questions</a> unresolved.<br /><br />Vice President <a href="https://www.cnbc.com/jd-vance-us-vice-president/" target="_blank" rel="noopener noreferrer">JD Vance</a>, who has been involved in the negotiations, <a href="https://www.cnbc.com/2026/06/18/vance-iran-war-memo-oil-gas.html" target="_blank" rel="noopener noreferrer">defended the agreement</a> last week, insisting that the U.S. is not sending taxpayer money to Iran and that Tehran would receive economic benefits only if it complies with the deal.<br /><br />Trump said Tuesday — and reiterated in a social media post Wednesday morning — that the <a href="https://www.reuters.com/world/trump-insists-iran-has-agreed-nuclear-inspections-2026-06-23/?utm_source" target="_blank" rel="noopener noreferrer">money and sanctions</a> relief being released by the Treasury would go into a U.S.-controlled escrow account and be used for food and medical supplies from the United States, including corn, wheat and soybeans.</p>

<p>Bessent echoed that argument Wednesday, saying any money Iran receives would come from frozen Iranian funds and be used first "for the benefit of the Iranian people."</p>

Guardian Sport · Jun 24

Guardian Sport · Jun 24

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