I’m sure the Iranians are now cowering in fear. The move comes amid tensions between US, Israel, and Tehran, with Iran tied to missile strikes on US bases and an attack on an Israeli-owned ship in Gulf of Oman.
Al-Arabiya (h/t Karen B) Iranian trade official Hamid Hosseini board member of the Iran-Iraq Joint Chamber of Commerce, had tweeted on Friday that Washington approved the release of frozen Iranian assets at the Trade Bank of Iraq, without mentioning the value of the assets.
Hosseini on Sunday confirmed that the US agreed to the release of $3 billion in Iranian frozen assets in the three countries. US sanctions imposed by former President Donald Trump have prevented Iran from accessing tens of billions of its assets in foreign banks.
Iranian frozen assets in Iraq amount to more than $6 billion, according to Iranian officials. The head of the Iran-South Korea Chamber of Commerce said in October Iranian frozen funds in South Korea are worth $8.5 billion and added that their release depended on the outcome of the US presidential election.
The Biden administration revoked snapback sanctions claimed by the Trump administration against Iran and also revoked travel restrictions on senior Iranian diplomats at the United Nations.
Israeli F-15 fighter jets escorted two American B-52 bombers through Israeli airspace on Sunday in a new show of force by the United States against Iran — with an Israeli element — amid rising tensions in the region.