Tehran announced that it would take about two months to release the Americans in Iran, while South Korea transferred its frozen Iranian assets to the Swiss central bank, a first step before transferring them to Iran.

“Relevant authorities have announced a specific deadline, and these measures will take a maximum of two months,” Iranian Foreign Ministry spokesman Nasser Khanani told a press conference on Monday.

Tehran and Washington reached an agreement earlier this month that included the release of five US citizens detained in Iran and the release of $6 billion worth of Iranian assets in South Korea.

South Korean media – today Monday – Iranian assets frozen in the country were transferred to the Swiss central bank last week, to be converted into other currencies and transferred to Iran.

humanitarian objectives

Last Friday, Iran announced it would begin releasing $10 billion of its frozen funds in South Korea and Iraq as part of a deal with the United States.
Tehran said Washington would also release some Iranians from US prisons.

A lawyer for one of the arrested Americans said Iran had allowed 4 American citizens to go under house arrest from Evin prison in Tehran, and a fifth American was already under house arrest.

In the same context, the US State Department spokesperson – said today Monday that Iran can only use the frozen Iranian funds in South Korea for humanitarian purposes.

The funds will always be available to Iran for humanitarian use, State Department principal deputy spokesman Vedant Patil told reporters at the White House.
“Allowing Iran to use this money for humanitarian purposes is consistent with longstanding U.S. policies to ensure that our sanctions do not impede the flow of humanitarian goods and services to the public,” he added.

Iranian President Ibrahim Raisi said last Wednesday that his country intends to invest billions in domestic production, after releasing frozen assets, saying “the government will try to invest this money in increasing production.” More clarity about the areas Iran intends to improve its production.