Iranian Lawmaker Says Part Of Freed Funds Will Go To Central Bank

Mohammad-Reza Pourebrahimi, the chairman of the Iranian parliament's economic committee was quoted by local media as saying that part of Iran's freed assets needs to be directly deposited to the Central Bank of Iran, as the previous government of President Hassan Rouhani has spent the amount to cover government's expenditure.

The United States allowed South Korea in August to release the funds blocked due to US sanctions in exchange for five US citizens held hostage by Iran. However, the Biden administration has been insisting that the funds can only be used by Iran to import food, medicine, and other humanitarian needs.

"The Treasury Department has strict oversight over the use of those funds. We have visibility into how they are used, and we have the ability to police their use," State Department spokesperson Matthew Miller told reporters on September 12.

However, earlier this week, Iran’s President Ebrahim Raisi told NBC News that the money will be spent o whatever the Iranian people need. "This money will be budgeted for those needs and the needs of the Iranian people will be decided and determined by the Iranian government,” Raisi insisted.

There has been strong criticism of the Biden administration’s move in Congress. Many Republicans have accused the White House of caving into Iran and by offering a large ransom endangering the lives of other Americans.