Iran is pressing for access to tens of billions of dollars in frozen assets as part of negotiations with the United States over a potential new nuclear agreement, a demand that could present political challenges for President Donald Trump as talks continue, reports the Wall Street Journal.
According to details emerging from the negotiations, Iranian officials are seeking approximately $12 billion in assets to be released at the outset of an agreement, followed by another $24 billion during a proposed 60-day negotiating period aimed at reaching a broader deal.
Iranian officials argue that the money belongs to Tehran and should not be treated as a concession by Washington.
"Twenty-four billion dollars is not much for America if he wants to reach an agreement with Iran," Gen. Mohsen Rezaei, a senior adviser to Supreme Leader Ayatollah Ali Khamenei, said in comments to CNN on Friday. "This is our own, not America's money."
The dispute over frozen funds has emerged as one of the most sensitive issues in the negotiations.
U.S. officials have indicated Iran could eventually gain access to some restricted assets under a final agreement but have rejected providing funds in advance or guaranteeing specific amounts before a deal is completed.
The issue carries significant political risks in Washington.
Previous administrations faced intense criticism for allowing Iran access to assets during diplomatic negotiations.
The Obama administration drew bipartisan scrutiny in 2016 after transferring $400 million in cash to Iran as part of a broader $1.7 billion settlement that coincided with implementation of the 2015 nuclear accord.
More recently, Republicans sharply criticized the Biden administration's decision in 2023 to permit Iran access to $6 billion in restricted funds as part of a prisoner exchange agreement — the funds were effectively frozen after Hamas, an Iran-backed militant group, carried out its Oct. 7 attack on Israel, killing and abducting civilians.
Ali Vaez, a senior adviser at the International Crisis Group, said Iranian leaders see access to the funds as necessary to justify engaging in politically risky negotiations with Washington.
Iran's economy has been strained by years of U.S. sanctions, declining investment and regional conflict.
Experts estimate the country has roughly $100 billion in overseas assets that remain difficult to access because of sanctions, much of it tied to past oil revenues and foreign reserves, according to the Journal.
In addition, analysts estimate Iran holds about $15 billion in Iraqi financial institutions linked to electricity and natural gas exports, funds that have also been affected by U.S. sanctions restrictions.