US, Qatar work on plan to give Iran access to $6bn in frozen funds - WSJ

The United States and Qatar are working on a plan that could give Iran access to billions of dollars in frozen funds for humanitarian spending, the Wall Street Journal reported, citing people familiar with the matter.

The plan, which has not been finalized, would initially allow Tehran to use $6 billion held in Qatar to buy food, medicine and other humanitarian goods, the report said.

The funds are part of Iran’s estimated $100 billion in cash frozen worldwide, much of it revenue from oil sales locked up overseas under sanctions, according to the Journal.

Under the proposed mechanism, Iran’s central bank would be able to order humanitarian goods using the previously frozen funds, with transfers carried out under international supervision.

The Journal said the plan remains in its early stages and has not yet been agreed to by Tehran.

The proposal would mark another early financial incentive under the recently signed US-Iran memorandum, while stopping short of giving Tehran unrestricted access to the money.