Iran Says U.S. Agreed to Unblock $12 Billion in Frozen Funds

AI Summary

Iran and the United States have agreed to release $12 billion in frozen Iranian funds, marking progress in negotiations involving the Strait of Hormuz. Iranian official Mohammad Bagher Ghalibaf highlighted cooperation potential despite lasting tensions over the strategic waterway.

Iran and the United States have reached an agreement under which the U.S. would release $12 billion in frozen Iranian funds, Mohammad Bagher Ghalibaf, Iran’s top negotiator, said on Tuesday, as carried by Al Jazeera. On his way back from Switzerland, where the first round of “encouraging” talks were held on Sunday and Monday, Ghalibaf told reporters that “the U.S. and Iran can work together to reopen the Strait of Hormuz.” Yet, the top Iranian negotiator said that the Strait of Hormuz would never return to the way…