White House Rejects Reports of Asset Release Amid Islamabad Talks

Amid ongoing discussions in Islamabad, the White House has firmly dismissed claims suggesting the United States had agreed to unfreeze Iranian assets previously blocked in global financial institutions. This denial follows a report featuring a statement from a senior Iranian official who suggested that Washington had indicated a willingness to release the funds. The official described this as a 'tangible demonstration' of America's commitment to reaching a formal agreement. As the dialogue continues, both American and Iranian representatives are focusing on achieving a lasting ceasefire. The controversial assets in question include approximately $6 billion originating from Iranian oil exports to South Korea, funds that were first frozen in 2018. Although there was an expectation for these funds to be released in 2023 as part of a prisoner exchange, they were subsequently re-frozen following the attacks on Israel on October 7, 2023. The current negotiations come in the wake of a brief ceasefire mediated earlier this month. Iran has brought a firm 10-point plan to the discussions, with key demands that include lifting all economic sanctions and withdrawing US military personnel from regional bases. Additionally, Iran seeks international acknowledgement of its sovereignty over the Strait of Hormuz, a strategic waterway critical to global oil transport. Washington has characterised this demand as a form of 'short-term extortion.' As of now, the negotiations are deemed critical, with both sides needing to bridge significant gaps. The Iranian delegation, led by Parliamentary Speaker Mohammad Bagher Ghalibaf, has expressed deep scepticism towards the US. Conversely, US Vice President JD Vance, heading the American team, has cautioned that the US will not be 'played' and affirmed that any agreement must entail stringent nuclear limitations and assured, unrestricted access through the Strait of Hormuz for oil shipments.