Subtitled News: "Using Oil Money Paid by South Korea for Negotiations?"... Tense Standoff Over "Desperation" vs. "Not a Single Cent"

A path has opened for Iran to regain access to $6 billion—approximately 9.2 trillion won—in proceeds from crude oil sold to South Korea.

Currently, these funds are not frozen in South Korea, but in Qatar.

The Wall Street Journal reported that the United States and Qatar are discussing a plan to allow these frozen assets to be used for the purchase of humanitarian goods.

These funds were originally Iranian assets frozen at Woori Bank and the Industrial Bank of Korea (IBK) due to U.S. sanctions.

They were frozen in South Korea in 2018 when the first Trump administration reinstated sanctions against Iran, and were transferred to Qatar in 2023 after a tumultuous negotiation process involving the release of American hostages.

The funds were routed through Qatar to allow the U.S. to monitor and control Iran's spending.

However, the assets were frozen again immediately after Hamas's surprise attack on Israel in October of that year.

According to the plan, the Central Bank of Iran would be able to use this money to purchase food and medicine.

For Iran, this money is critical.

The country has run out of foreign currency due to hyperinflation and the collapse of its currency's value.

These funds serve as the first litmus test to see if the ceasefire agreement between the U.S. and Iran will hold.

The U.S. promised to fully unfreeze Iran's assets in accordance with the agreement.

The total amount of Iranian assets frozen worldwide is $100 billion, and Iran is demanding the immediate release of $24 billion.

However, the U.S. government maintains that it will release the funds while monitoring Iran's attitude.

[Donald Trump/President of the United States: I signed the agreement last night, and the deadline is 60 days. Iran must conclude the negotiations. If not, we will do things they will not like. But I don't think it will come to that.]

After Mojtaba Khamenei, the Supreme Leader of Iran, stated that "the U.S. was desperate and agreed to a ceasefire," President Trump retorted on social media, saying, "We will go to the end of the 60 days, but Iran is finished; they won't get a single dime," continuing a tense war of nerves.

The U.S. has stated that it will release more assets if Iran demonstrates "good behavior," such as handing over enriched uranium.

How the Iranian oil proceeds, which were once frozen in South Korea, are released has become a benchmark for gauging the direction of this ceasefire.

Reported by Kim, Soo Hyung | Video by Na Hong-hee | Graphics by Yang Hye-min | Produced by SBS Digital News
※ Please note: This article was translated by AI and may contain errors.