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Biden Administration Agrees To Prisoner Swap, $6 Billion In Frozen Money To Iran

The Biden Administration agreed to release five Iranian citizens held in the U.S., as well as $6 billion in frozen Iranian cash, in exchange for the release of five American citizens detained in Iran, according to PBS.

Secretary of State Antony Blinken signed off on the deal in the first week of September, but news of it broke on the 22-year anniversary of 9/11. The full details of the deal have yet to be released. It’s expected that the deal with cause significant blowback on President Joe Biden, as Iran continues to pose a significant threat to the U.S., particularly for troops and allies in the Middle East.

Congress was not informed of the decision until Monday.

Where Does The Money Come From?

The blanket waiver deal allows international banks to transfer some $6 billion in frozen Iranian money back to the nation without any repercussions from the U.S. The money is expected to be released from South Korea, Ireland, Germany, and Switzerland, and transferred to Qatar’s central bank. (LEARN MORE: Actor Pushes Hollywood To Promote Faith Instead Of Evil)

“To facilitate their release, the United States has committed to release five Iranian nationals currently held in the United States and to permit the transfer of approximately $6 billion in restricted Iranian funds held in (South Korea) to restricted accounts in Qatar, where the funds will be available only for humanitarian trade,” Blinken wrote of the decision.

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